20-quarter listed-company comparison

REIT - Mortgage Stocks

REIT - Mortgage: Rithm Capital Corp. owns the largest revenue base; Adamas Trust, Inc. has the fastest current growth.

The industry itself · before any single company

How has REIT - Mortgage moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 49% behind S&P 500. Earnings across its companies fell 19% on average over the last four reported quarters.

BASING · 1y −26.6%~Price down, no fundamental support2 of 30 companies ahead of S&P 500 by 5% or more over three months3 are 20% or more behind over a year while earnings grew 20% or more

RS — · 6/30 >200d (−2) · 2/30 lead (+1) · EPS 13/30↑

REIT - Mortgage, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy NarrowHow much of the industry is participating, how recently, and whether the movers score well.

Together2 of 30 stocks moving

Fresh2 crossed in the last 4 weeks

Backed by scoresmovers score +16 vs the industry average

Down the cap ladder — bar is now, tick is four weeks ago

Large 0/60

Mid 0/11−1

Small 2/13+2

Participation is spreading downward — the mid and small companies added more this month than the large ones did.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 30 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is REIT - Mortgage outperforming S&P 500?

REIT - Mortgage has underperformed S&P 500 by 22.4% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 11.8%. 3 of 29 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. NexPoint Real Estate Finance, Inc. is the strongest against the sector itself at +26.2%.

-11.8%Sector vs S&P 500 · 13 weeks

-22.4%Sector vs S&P 500 · 52 weeks

3/29Stocks leading S&P 500

17/29Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

REIT - Mortgage has underperformed S&P 500 by 22.4% over 52 weeks and 11.8% over 13 weeks. 3 of 29 covered companies beat the S&P 500 on Mansfield relative strength, while 17 of 29 beat the sector itself. Rithm Capital Corp. leads with income of $4,994 million, based on 24 of 29 comparable companies through Mar 2026.

Is the REIT - Mortgage sector outperforming S&P 500?

Which REIT - Mortgage company is largest by income?

Rithm Capital Corp. leads with income of $4,994 million, based on 24 of 29 comparable companies through Mar 2026.

Which REIT - Mortgage company is growing fastest?

Adamas Trust, Inc. has the fastest current income growth at 100%, across 24 of 29 comparable companies.

Which REIT - Mortgage company has the strongest 4-Factor Sector Score?

Invesco Mortgage Capital Inc. ranks first at 70.9/100 with 70% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which REIT - Mortgage company has the lowest comparable P/BV-to-ROE?

Invesco Mortgage Capital Inc. has the lowest comparable P/BV ÷ ROE at 0.03, among 17 of 29 companies that pass the metric’s comparability rules.

How much history does this REIT - Mortgage comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

$66.6B

Annaly Capital Management, Inc.

Revenue growing

11/24

positive TTM year-on-year growth

Beating S&P 500

3/29

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Invesco Mortgage Capital Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 70% evidence confidence.

AGNC Investment Corp. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded.

1. Invesco Mortgage Capital Inc. · IVR

70.9/100 · Favorable setup · 70% evidence

Exact sum: 25.9 + 19.6 + 15.6 + 9.8 = 70.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

25.9/35Growth & earnings

Income 19.1% · PAT 17.3%

71% evidence

19.6/25Capital efficiency

ROA 3.3% · ROE 26.3% · GNPA —

68% evidence

15.6/20Valuation

P/BV 0.8× · P/BV÷ROE 0.03

70% evidence

9.8/20Relative strength

RS sector 1% · RS bench -13.1% · 1Y -0.9%

70% evidence

2. Adamas Trust, Inc. · ADAM

63.7/100 · Thin evidence · provisional · 56% evidence

Exact sum: 26.2 + 12.5 + 8.6 + 16.4 = 63.7

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

26.2/35Growth & earnings

Income 100% · PAT 100%

55% evidence

12.5/25Capital efficiency

ROA — · ROE 6.1% · GNPA —

34% evidence

8.6/20Valuation

P/BV 0.45× · P/BV÷ROE 0.07

70% evidence

16.4/20Relative strength

RS sector 19.2% · RS bench 3.3% · 1Y 32.4%

70% evidence

3. NexPoint Real Estate Finance, Inc. · NREF

61.5/100 · Thin evidence · provisional · 56% evidence

Exact sum: 23.1 + 12.8 + 8.6 + 17 = 61.5

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

23.1/35Growth & earnings

Income 41.8% · PAT 57.9%

55% evidence

12.8/25Capital efficiency

ROA — · ROE 3.1% · GNPA —

34% evidence

8.6/20Valuation

P/BV 0.65× · P/BV÷ROE 0.21

70% evidence

17.0/20Relative strength

RS sector 26.2% · RS bench 8.9% · 1Y 25.3%

70% evidence

4. PennyMac Mortgage Investment Trust · PMT

60.5/100 · Thin evidence · provisional · 56% evidence

Exact sum: 26.1 + 13.6 + 15.9 + 4.9 = 60.5

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

26.1/35Growth & earnings

Income 44.6% · PAT 100%

55% evidence

13.6/25Capital efficiency

ROA — · ROE 9.3% · GNPA —

34% evidence

15.9/20Valuation

P/BV 0.54× · P/BV÷ROE 0.06

70% evidence

4.9/20Relative strength

RS sector -10.2% · RS bench -23.1% · 1Y -17%

70% evidence

5. Ellington Financial Inc. · EFC

60.1/100 · Thin evidence · provisional · 56% evidence

Exact sum: 24.5 + 13.4 + 8.6 + 13.6 = 60.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

24.5/35Growth & earnings

Income 39.9% · PAT 43.1%

55% evidence

13.4/25Capital efficiency

ROA — · ROE 6% · GNPA —

34% evidence

8.6/20Valuation

P/BV 0.77× · P/BV÷ROE 0.13

70% evidence

13.6/20Relative strength

RS sector 10.4% · RS bench -4.9% · 1Y 6.7%

70% evidence

6. TPG RE Finance Trust, Inc. · TRTX

47.8/100 · Thin evidence · provisional · 56% evidence

Exact sum: 15.1 + 12.7 + 7 + 13 = 47.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

15.1/35Growth & earnings

Income -3.2% · PAT -7%

55% evidence

12.7/25Capital efficiency

ROA — · ROE 1.8% · GNPA —

34% evidence

7.0/20Valuation

P/BV 0.57× · P/BV÷ROE 0.32

70% evidence

13.0/20Relative strength

RS sector 6.3% · RS bench -8.6% · 1Y -1.5%

70% evidence

7. Rithm Capital Corp. · RITM

45.5/100 · Mixed-negative evidence · 62% evidence

Exact sum: 15.6 + 12.4 + 5.6 + 11.9 = 45.5

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

15.6/35Growth & earnings

Income -4.5% · PAT 1.5%

55% evidence

12.4/25Capital efficiency

ROA — · ROE 1.2% · GNPA —

34% evidence

5.6/20Valuation

P/BV 0.61× · P/BV÷ROE 0.51

70% evidence

11.9/20Relative strength

RS sector 0.5% · RS bench -14.1% · 1Y -18.8%

100% evidence

8. Starwood Property Trust, Inc. · STWD

43.9/100 · Mixed-negative evidence · 62% evidence

Exact sum: 19.2 + 12.3 + 3.9 + 8.5 = 43.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.2/35Growth & earnings

Income 12.3% · PAT 13.9%

55% evidence

12.3/25Capital efficiency

ROA — · ROE 0.8% · GNPA —

34% evidence

3.9/20Valuation

P/BV 0.96× · P/BV÷ROE 1.2

70% evidence

8.5/20Relative strength

RS sector -0.6% · RS bench -14.8% · 1Y -14%

100% evidence

9. Apollo Commercial Real Estate Finance, Inc. · ARI

41.2/100 · Thin evidence · provisional · 56% evidence

Exact sum: 20.2 + 12.2 + 5.2 + 3.6 = 41.2

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

20.2/35Growth & earnings

Income -8.3% · PAT 100%

55% evidence

12.2/25Capital efficiency

ROA — · ROE 1.4% · GNPA —

34% evidence

5.2/20Valuation

P/BV 0.8× · P/BV÷ROE 0.57

70% evidence

3.6/20Relative strength

RS sector -28.8% · RS bench -38.8% · 1Y -31.2%

70% evidence

10. BrightSpire Capital, Inc. · BRSP

37.3/100 · Mixed-negative evidence · 67% evidence

Exact sum: 17.4 + 10.4 + 3.8 + 5.7 = 37.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.4/35Growth & earnings

Income 8.3% · PAT —

45% evidence

10.4/25Capital efficiency

ROA 0.2% · ROE 0.3% · GNPA —

68% evidence

3.8/20Valuation

P/BV 0.79× · P/BV÷ROE 2.65

70% evidence

5.7/20Relative strength

RS sector 0.4% · RS bench -13.6% · 1Y 1.6%

100% evidence

11. Ready Capital Corporation · RC

37.3/100 · Thin evidence · provisional · 56% evidence

Exact sum: 11.9 + 13.8 + 8.6 + 3 = 37.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

11.9/35Growth & earnings

Income -25.8% · PAT -38.6%

55% evidence

13.8/25Capital efficiency

ROA — · ROE 5.9% · GNPA —

34% evidence

8.6/20Valuation

P/BV 0.2× · P/BV÷ROE 0.03

70% evidence

3.0/20Relative strength

RS sector -34.5% · RS bench -44.9% · 1Y -65.1%

70% evidence

12. Franklin BSP Realty Trust, Inc. · FBRT

37.1/100 · Mixed-negative evidence · 70% evidence

Exact sum: 19 + 8.8 + 5 + 4.3 = 37.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.0/35Growth & earnings

Income 33.2% · PAT -10%

71% evidence

8.8/25Capital efficiency

ROA -0.7% · ROE 0.8% · GNPA —

68% evidence

5.0/20Valuation

P/BV 0.58× · P/BV÷ROE 0.72

70% evidence

4.3/20Relative strength

RS sector -13.1% · RS bench -25.8% · 1Y -26%

70% evidence

13. Chicago Atlantic Real Estate Finance, Inc. · REFI

35.6/100 · Thin evidence · provisional · 56% evidence

Exact sum: 12.1 + 13 + 5.9 + 4.6 = 35.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

12.1/35Growth & earnings

Income -12.5% · PAT -18.4%

55% evidence

13.0/25Capital efficiency

ROA — · ROE 1.6% · GNPA —

34% evidence

5.9/20Valuation

P/BV 0.79× · P/BV÷ROE 0.49

70% evidence

4.6/20Relative strength

RS sector -11% · RS bench -23.8% · 1Y -21.8%

70% evidence

14. Arbor Realty Trust, Inc. · ABR

31.1/100 · Thin evidence · provisional · 56% evidence

Exact sum: 11.6 + 12.1 + 4.1 + 3.3 = 31.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

11.6/35Growth & earnings

Income -9.9% · PAT -50.8%

55% evidence

12.1/25Capital efficiency

ROA — · ROE 0.4% · GNPA —

34% evidence

4.1/20Valuation

P/BV 0.52× · P/BV÷ROE 1.29

70% evidence

3.3/20Relative strength

RS sector -33.4% · RS bench -43.8% · 1Y -54.6%

70% evidence

15. Annaly Capital Management, Inc. · NLY

56.4/100 · Thin evidence · provisional · 46% evidence

Exact sum: 19 + 12.6 + 8 + 16.8 = 56.4

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

19.0/35Growth & earnings

Income — · PAT —

10% evidence

12.6/25Capital efficiency

ROA — · ROE 5.4% · GNPA —

34% evidence

8.0/20Valuation

P/BV 0.97× · P/BV÷ROE 0.18

70% evidence

16.8/20Relative strength

RS sector 13.3% · RS bench -2.4% · 1Y 13.1%

100% evidence

16. Two Harbors Investment Corp. · TWO

54.8/100 · Thin evidence · provisional · 47% evidence

Exact sum: 21.3 + 11.4 + 6.2 + 15.9 = 54.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

21.3/35Growth & earnings

Income 30.4% · PAT 13.4%

29% evidence

11.4/25Capital efficiency

ROA — · ROE 1.7% · GNPA —

34% evidence

6.2/20Valuation

P/BV 0.69× · P/BV÷ROE 0.41

70% evidence

15.9/20Relative strength

RS sector 18.6% · RS bench 2.7% · 1Y 23.7%

70% evidence

17. Dynex Capital, Inc. · DX

50.3/100 · Thin evidence · provisional · 41% evidence

Exact sum: 19.4 + 9.3 + 9.1 + 12.5 = 50.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

19.4/35Growth & earnings

Income 100% · PAT 100%

29% evidence

9.3/25Capital efficiency

ROA — · ROE -3.9% · GNPA —

34% evidence

9.1/20Valuation

P/BV 0.97× · P/BV÷ROE —

10% evidence

12.5/20Relative strength

RS sector 5.1% · RS bench -9.5% · 1Y 3.7%

100% evidence

18. AGNC Investment Corp. · AGNC

46.9/100 · Thin evidence · provisional · 50% evidence

Exact sum: 14 + 7.3 + 9 + 16.6 = 46.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

14.0/35Growth & earnings

Income — · PAT —

30% evidence

7.3/25Capital efficiency

ROA -0.5% · ROE -4.8% · GNPA —

68% evidence

9.0/20Valuation

P/BV 1× · P/BV÷ROE —

10% evidence

16.6/20Relative strength

RS sector 13.4% · RS bench -2.2% · 1Y 16.8%

100% evidence

19. MFA Financial, Inc. · MFA

45.7/100 · Thin evidence · provisional · 44% evidence

Exact sum: 14.1 + 10.7 + 9.8 + 11.1 = 45.7

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

14.1/35Growth & earnings

Income -3% · PAT -2.2%

55% evidence

10.7/25Capital efficiency

ROA — · ROE -0.1% · GNPA —

34% evidence

9.8/20Valuation

P/BV 0.55× · P/BV÷ROE —

10% evidence

11.1/20Relative strength

RS sector 3.1% · RS bench -11.4% · 1Y 0.8%

70% evidence

20. Ladder Capital Corp · LADR

43.8/100 · Thin evidence · provisional · 40% evidence

Exact sum: 17.6 + 12.5 + 4.3 + 9.4 = 43.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.6/35Growth & earnings

Income — · PAT —

10% evidence

12.5/25Capital efficiency

ROA — · ROE 1% · GNPA —

34% evidence

4.3/20Valuation

P/BV 0.89× · P/BV÷ROE 0.89

70% evidence

9.4/20Relative strength

RS sector 0.7% · RS bench -13.6% · 1Y -9.3%

70% evidence

21. Ares Commercial Real Estate Corporation · ACRE

43.4/100 · Thin evidence · provisional · 49% evidence

Exact sum: 14.3 + 8.7 + 9.8 + 10.6 = 43.4

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

14.3/35Growth & earnings

Income -20.9% · PAT —

45% evidence

8.7/25Capital efficiency

ROA 0.1% · ROE -1.9% · GNPA —

68% evidence

9.8/20Valuation

P/BV 0.54× · P/BV÷ROE —

10% evidence

10.6/20Relative strength

RS sector 2.6% · RS bench -11.7% · 1Y 4.1%

70% evidence

22. Blackstone Mortgage Trust, Inc. · BXMT

42.8/100 · Thin evidence · provisional · 41% evidence

Exact sum: 19.3 + 10.3 + 9.4 + 3.8 = 42.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

19.3/35Growth & earnings

Income 18.1% · PAT —

29% evidence

10.3/25Capital efficiency

ROA — · ROE -0.2% · GNPA —

34% evidence

9.4/20Valuation

P/BV 0.95× · P/BV÷ROE —

10% evidence

3.8/20Relative strength

RS sector -4.4% · RS bench -17.9% · 1Y -10.7%

100% evidence

23. Angel Oak Mortgage REIT, Inc. · AOMR

41.3/100 · Thin evidence · provisional · 44% evidence

Exact sum: 9 + 9.4 + 9.6 + 13.3 = 41.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

9.0/35Growth & earnings

Income -36.8% · PAT -56.8%

55% evidence

9.4/25Capital efficiency

ROA — · ROE -2.9% · GNPA —

34% evidence

9.6/20Valuation

P/BV 0.8× · P/BV÷ROE —

10% evidence

13.3/20Relative strength

RS sector 8.9% · RS bench -6.5% · 1Y -2.4%

70% evidence

24. Chimera Investment Corporation · CIM

40.8/100 · Thin evidence · provisional · 44% evidence

Exact sum: 9.2 + 10.1 + 9.8 + 11.7 = 40.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

9.2/35Growth & earnings

Income -35.7% · PAT -98.9%

55% evidence

10.1/25Capital efficiency

ROA — · ROE -0.8% · GNPA —

34% evidence

9.8/20Valuation

P/BV 0.43× · P/BV÷ROE —

10% evidence

11.7/20Relative strength

RS sector 4% · RS bench -10.5% · 1Y -5.6%

70% evidence

25. TPG Mortgage Investment Trust, Inc. · MITT

40.1/100 · Thin evidence · provisional · 44% evidence

Exact sum: 11.9 + 10.4 + 9.8 + 8 = 40.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

11.9/35Growth & earnings

Income -6.1% · PAT -23.4%

55% evidence

10.4/25Capital efficiency

ROA — · ROE -0.6% · GNPA —

34% evidence

9.8/20Valuation

P/BV 0.43× · P/BV÷ROE —

10% evidence

8.0/20Relative strength

RS sector -0.4% · RS bench -14.4% · 1Y 3.9%

70% evidence

26. ARMOUR Residential REIT, Inc. · ARR

38.6/100 · Thin evidence · provisional · 48% evidence

Exact sum: 13.2 + 4.1 + 9.5 + 11.8 = 38.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

13.2/35Growth & earnings

Income — · PAT —

26% evidence

4.1/25Capital efficiency

ROA -1% · ROE -9.5% · GNPA —

68% evidence

9.5/20Valuation

P/BV 0.84× · P/BV÷ROE —

10% evidence

11.8/20Relative strength

RS sector 5.4% · RS bench -9.1% · 1Y 0.2%

100% evidence

27. Claros Mortgage Trust, Inc. · CMTG

37.5/100 · Thin evidence · provisional · 35% evidence

Exact sum: 14.8 + 8.9 + 9.8 + 4 = 37.5

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

14.8/35Growth & earnings

Income -677.5% · PAT —

29% evidence

8.9/25Capital efficiency

ROA — · ROE -3.2% · GNPA —

34% evidence

9.8/20Valuation

P/BV 0.22× · P/BV÷ROE —

10% evidence

4.0/20Relative strength

RS sector -19.2% · RS bench -31.2% · 1Y -24%

70% evidence

28. Orchid Island Capital, Inc. · ORC

35.6/100 · Thin evidence · provisional · 42% evidence

Exact sum: 13.3 + 5.8 + 9.1 + 7.4 = 35.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

13.3/35Growth & earnings

Income — · PAT —

26% evidence

5.8/25Capital efficiency

ROA -0.7% · ROE -5.8% · GNPA —

68% evidence

9.1/20Valuation

P/BV 0.97× · P/BV÷ROE —

10% evidence

7.4/20Relative strength

RS sector -0.8% · RS bench -14.8% · 1Y -6.5%

70% evidence

29. Redwood Trust, Inc. · RWT

34.6/100 · Thin evidence · provisional · 44% evidence

Exact sum: 9.5 + 10 + 9.8 + 5.3 = 34.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

9.5/35Growth & earnings

Income -34.8% · PAT -330%

55% evidence

10.0/25Capital efficiency

ROA — · ROE -0.5% · GNPA —

34% evidence

9.8/20Valuation

P/BV 0.73× · P/BV÷ROE —

10% evidence

5.3/20Relative strength

RS sector -9.5% · RS bench -22.4% · 1Y -14.5%

70% evidence

01 · compare level, then change

Income Scale & Growth Durability

Rithm Capital Corp. has the highest Income among the 29 REIT - Mortgage companies compared here, at $4,994 million. Ready Capital Corporation is next at $1,057 million. Adamas Trust, Inc. has the highest Income growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Rithm Capital Corp. is the scale leader at $4,994 million, 372.5% ahead of Ready Capital Corporation. Adamas Trust, Inc.'s growth is stored at the ≥100% scoring cap; the uncapped TTM change is 114.1% from a $152 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderRithm Capital Corp. · $4,994 million

Gap372.5% versus #2 · Ready Capital Corporation

Persistence5/8 recent comparable periods

Coverage24/29 companies · 530 observations

Investor read: Rithm Capital Corp. is the scale benchmark; Adamas Trust, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Rithm Capital Corp.'s growth falls below Adamas Trust, Inc.'s for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.

Incomelargest

1Rithm Capital Corp. RITM$5.0B

2Ready Capital Corporation RC$1.1B

3Two Harbors Investment Corp. TWO$923M

4Starwood Property Trust, Inc. STWD$904M

5Ellington Financial Inc. EFC$491M

Income growthfastest growers

1Adamas Trust, Inc. ADAM100%

2Dynex Capital, Inc. DX100%

3PennyMac Mortgage Investment Trust PMT45%

4NexPoint Real Estate Finance, Inc. NREF42%

5Ellington Financial Inc. EFC40%

Income · company comparison

24/29 level · 24/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Income	Income growth	Reported
Rithm Capital Corp. RITM	$1.4B	41%	Mar 2026
Annaly Capital Management, Inc. NLY	$342M	83%	Jun 2026
PennyMac Mortgage Investment Trust PMT	$233M	85%	Mar 2026
Two Harbors Investment Corp. TWO	$225M	45%	Mar 2026
Starwood Property Trust, Inc. STWD	$206M	-13%	Mar 2026
Ready Capital Corporation RC	$201M	-5.2%	Mar 2026
Ellington Financial Inc. EFC	$189M	108%	Mar 2026
Arbor Realty Trust, Inc. ABR	$109M	-8.4%	Mar 2026
Blackstone Mortgage Trust, Inc. BXMT	$104M	35%	Mar 2026
Franklin BSP Realty Trust, Inc. FBRT	$74M	35%	Mar 2026
ARMOUR Residential REIT, Inc. ARR	$71M	97%	Jun 2026
Redwood Trust, Inc. RWT	$64M	-14%	Mar 2026
Apollo Commercial Real Estate Finance, Inc. ARI	$59M	-11%	Mar 2026
Ladder Capital Corp LADR	$52M	2.0%	Jun 2026
BrightSpire Capital, Inc. BRSP	$52M	16%	Mar 2026
Adamas Trust, Inc. ADAM	$46M	48%	Mar 2026
MFA Financial, Inc. MFA	$44M	-46%	Mar 2026
TPG RE Finance Trust, Inc. TRTX	$37M	0.0%	Mar 2026
Chimera Investment Corporation CIM	$35M	-83%	Mar 2026
NexPoint Real Estate Finance, Inc. NREF	$33M	-2.9%	Mar 2026
Ares Commercial Real Estate Corporation ACRE	$13M	-13%	Mar 2026
Chicago Atlantic Real Estate Finance, Inc. REFI	$9M	-36%	Mar 2026
TPG Mortgage Investment Trust, Inc. MITT	$6M	-73%	Mar 2026
Claros Mortgage Trust, Inc. CMTG	$-2M	-200%	Mar 2026
Angel Oak Mortgage REIT, Inc. AOMR	$-2M	-108%	Mar 2026
Orchid Island Capital, Inc. ORC	$-13M	-162%	Jun 2026
Invesco Mortgage Capital Inc. IVR	$-15M	-163%	Mar 2026
Dynex Capital, Inc. DX	$-59M	-756%	Mar 2026

Full 20-quarter history · every available company

Income · reported quarter history

Showing the 12 largest of 28 companies with a series here. The remaining 16 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Annaly Capital Management, Inc. · NLY

Sep 2021$559M

Dec 2021$466M

Mar 2022$2.1B

Jun 2022$896M

Sep 2022$-240M

Dec 2022$-844M

Mar 2023$-787M

Jun 2023$218M

Sep 2023$-517M

Dec 2023$-351M

Mar 2024$503M

Jun 2024$48M

Sep 2024$120M

Dec 2024$527M

Mar 2025$187M

Jun 2025$111M

Sep 2025$886M

Dec 2025$1.1B

Mar 2026$342M

Jun 2026—

Arbor Realty Trust, Inc. · ABR

Sep 2021$152M

Dec 2021$198M

Mar 2022$149M

Jun 2022$148M

Sep 2022$136M

Dec 2022$177M

Mar 2023$170M

Jun 2023$158M

Sep 2023$157M

Dec 2023$171M

Mar 2024$143M

Jun 2024$126M

Sep 2024$140M

Dec 2024$142M

Mar 2025$119M

Jun 2025$108M

Sep 2025$130M

Dec 2025$128M

Mar 2026$109M

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 2021$20M

Dec 2021$20M

Mar 2022$31M

Jun 2022$35M

Sep 2022$30M

Dec 2022$12M

Mar 2023$12M

Jun 2023$6M

Sep 2023$4M

Dec 2023$6M

Mar 2024$5M

Jun 2024$7M

Sep 2024$2M

Dec 2024$13M

Mar 2025$36M

Jun 2025$33M

Sep 2025$39M

Dec 2025$50M

Mar 2026$71M

Jun 2026—

Blackstone Mortgage Trust, Inc. · BXMT

Sep 2021$120M

Dec 2021$184M

Mar 2022$131M

Jun 2022$134M

Sep 2022$144M

Dec 2022$2M

Mar 2023$164M

Jun 2023$150M

Sep 2023$267M

Dec 2023$-230M

Mar 2024$-90M

Jun 2024$-26M

Sep 2024$244M

Dec 2024$114M

Mar 2025$77M

Jun 2025$88M

Sep 2025$132M

Dec 2025$159M

Mar 2026$104M

Jun 2026—

Chimera Investment Corporation · CIM

Sep 2021$363M

Dec 2021$47M

Mar 2022$-232M

Jun 2022$-121M

Sep 2022$-164M

Dec 2022$84M

Mar 2023$95M

Jun 2023$73M

Sep 2023$29M

Dec 2023$67M

Mar 2024$155M

Jun 2024$85M

Sep 2024$160M

Dec 2024$-102M

Mar 2025$210M

Jun 2025$72M

Sep 2025$43M

Dec 2025$77M

Mar 2026$35M

Jun 2026—

Dynex Capital, Inc. · DX

Sep 2021$21M

Dec 2021$21M

Mar 2022$125M

Jun 2022$37M

Sep 2022$-36M

Dec 2022$52M

Mar 2023$-34M

Jun 2023$62M

Sep 2023$-34M

Dec 2023$33M

Mar 2024$51M

Jun 2024$-1M

Sep 2024$40M

Dec 2024$60M

Mar 2025$9M

Jun 2025$-1M

Sep 2025$162M

Dec 2025$202M

Mar 2026$-59M

Jun 2026—

Ellington Financial Inc. · EFC

Sep 2021$38M

Dec 2021$56M

Mar 2022$6M

Jun 2022$-56M

Sep 2022—

Dec 2022$-15M

Mar 2023$83M

Jun 2023$53M

Sep 2023$53M

Dec 2023$59M

Mar 2024$78M

Jun 2024$103M

Sep 2024$74M

Dec 2024$83M

Mar 2025$91M

Jun 2025$110M

Sep 2025$96M

Dec 2025$96M

Mar 2026$189M

Jun 2026—

Ladder Capital Corp · LADR

Sep 2021$50M

Dec 2021$62M

Mar 2022$74M

Jun 2022$85M

Sep 2022$70M

Dec 2022$117M

Mar 2023$70M

Jun 2023$67M

Sep 2023$72M

Dec 2023$55M

Mar 2024$63M

Jun 2024$72M

Sep 2024$68M

Dec 2024$69M

Mar 2025$51M

Jun 2025$56M

Sep 2025$57M

Dec 2025$50M

Mar 2026$52M

Jun 2026—

Orchid Island Capital, Inc. · ORC

Sep 2021$30M

Dec 2021$0M

Mar 2022$-144M

Jun 2022$-56M

Sep 2022$-80M

Dec 2022$51M

Mar 2023$9M

Jun 2023$15M

Sep 2023$-75M

Dec 2023$-25M

Mar 2024$24M

Jun 2024$-1M

Sep 2024$22M

Dec 2024$10M

Mar 2025$21M

Jun 2025$-29M

Sep 2025$78M

Dec 2025$109M

Mar 2026$-13M

Jun 2026—

Rithm Capital Corp. · RITM

Sep 2021$953M

Dec 2021$1.0B

Mar 2022$1.7B

Jun 2022$1.3B

Sep 2022$911M

Dec 2022$762M

Mar 2023$825M

Jun 2023$1.1B

Sep 2023$1.1B

Dec 2023$692M

Mar 2024$1.3B

Jun 2024$1.2B

Sep 2024$999M

Dec 2024$2.1B

Mar 2025$977M

Jun 2025$1.2B

Sep 2025$1.1B

Dec 2025$1.3B

Mar 2026$1.4B

Jun 2026—

Starwood Property Trust, Inc. · STWD

Sep 2021$265M

Dec 2021$277M

Mar 2022$505M

Jun 2022$385M

Sep 2022$274M

Dec 2022$265M

Mar 2023$158M

Jun 2023$324M

Sep 2023$141M

Dec 2023$216M

Mar 2024$281M

Jun 2024$200M

Sep 2024$181M

Dec 2024$187M

Mar 2025$237M

Jun 2025$204M

Sep 2025$220M

Dec 2025$274M

Mar 2026$206M

Jun 2026—

Two Harbors Investment Corp. · TWO

Sep 2021$83M

Dec 2021$14M

Mar 2022$353M

Jun 2022$-26M

Sep 2022$319M

Dec 2022$109M

Mar 2023$163M

Jun 2023$388M

Sep 2023$516M

Dec 2023$115M

Mar 2024$422M

Jun 2024$303M

Sep 2024$-43M

Dec 2024$293M

Mar 2025$155M

Jun 2025$174M

Sep 2025$255M

Dec 2025$269M

Mar 2026$225M

Jun 2026—

Income growth · reported quarter history

Showing the 12 largest of 28 companies with a series here. The remaining 16 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Annaly Capital Management, Inc. · NLY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-143%

Dec 2022-281%

Mar 2023-138%

Jun 2023-76%

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024-78%

Sep 2024—

Dec 2024—

Mar 2025-63%

Jun 2025131%

Sep 2025638%

Dec 2025101%

Mar 202683%

Jun 2026—

Arbor Realty Trust, Inc. · ABR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202217%

Sep 2022-11%

Dec 2022-11%

Mar 202314%

Jun 20236.8%

Sep 202315%

Dec 2023-3.4%

Mar 2024-16%

Jun 2024-20%

Sep 2024-11%

Dec 2024-17%

Mar 2025-17%

Jun 2025-14%

Sep 2025-7.1%

Dec 2025-9.9%

Mar 2026-8.4%

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022106%

Sep 202250%

Dec 2022-40%

Mar 2023-61%

Jun 2023-83%

Sep 2023-87%

Dec 2023-50%

Mar 2024-58%

Jun 202417%

Sep 2024-50%

Dec 2024117%

Mar 2025620%

Jun 2025371%

Sep 20251,850%

Dec 2025285%

Mar 202697%

Jun 2026—

Blackstone Mortgage Trust, Inc. · BXMT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022113%

Sep 202220%

Dec 2022-99%

Mar 202325%

Jun 202312%

Sep 202385%

Dec 2023-11,600%

Mar 2024-155%

Jun 2024-117%

Sep 2024-8.6%

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025-46%

Dec 202539%

Mar 202635%

Jun 2026—

Chimera Investment Corporation · CIM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-162%

Sep 2022-145%

Dec 202279%

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-20%

Mar 202463%

Jun 202416%

Sep 2024452%

Dec 2024-252%

Mar 202535%

Jun 2025-15%

Sep 2025-73%

Dec 2025—

Mar 2026-83%

Jun 2026—

Dynex Capital, Inc. · DX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-271%

Dec 2022148%

Mar 2023-127%

Jun 202368%

Sep 2023—

Dec 2023-37%

Mar 2024—

Jun 2024-102%

Sep 2024—

Dec 202482%

Mar 2025-82%

Jun 2025—

Sep 2025305%

Dec 2025237%

Mar 2026-756%

Jun 2026—

Ellington Financial Inc. · EFC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-195%

Sep 2022—

Dec 2022-127%

Mar 20231,283%

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-6.0%

Jun 202494%

Sep 202440%

Dec 202441%

Mar 202517%

Jun 20256.8%

Sep 202530%

Dec 202516%

Mar 2026108%

Jun 2026—

Ladder Capital Corp · LADR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022107%

Sep 202240%

Dec 202289%

Mar 2023-5.4%

Jun 2023-21%

Sep 20232.9%

Dec 2023-53%

Mar 2024-10%

Jun 20247.5%

Sep 2024-5.6%

Dec 202425%

Mar 2025-19%

Jun 2025-22%

Sep 2025-16%

Dec 2025-28%

Mar 20262.0%

Jun 2026—

Orchid Island Capital, Inc. · ORC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-367%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-149%

Mar 2024167%

Jun 2024-107%

Sep 2024—

Dec 2024—

Mar 2025-13%

Jun 2025—

Sep 2025255%

Dec 2025990%

Mar 2026-162%

Jun 2026—

Rithm Capital Corp. · RITM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022209%

Sep 2022-4.4%

Dec 2022-26%

Mar 2023-52%

Jun 2023-16%

Sep 202325%

Dec 2023-9.2%

Mar 202453%

Jun 20244.1%

Sep 2024-12%

Dec 2024203%

Mar 2025-23%

Jun 20255.4%

Sep 202511%

Dec 2025-38%

Mar 202641%

Jun 2026—

Starwood Property Trust, Inc. · STWD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202252%

Sep 20223.4%

Dec 2022-4.3%

Mar 2023-69%

Jun 2023-16%

Sep 2023-49%

Dec 2023-18%

Mar 202478%

Jun 2024-38%

Sep 202428%

Dec 2024-13%

Mar 2025-16%

Jun 20252.0%

Sep 202522%

Dec 202547%

Mar 2026-13%

Jun 2026—

Two Harbors Investment Corp. · TWO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022284%

Dec 2022679%

Mar 2023-54%

Jun 2023—

Sep 202362%

Dec 20235.5%

Mar 2024159%

Jun 2024-22%

Sep 2024-108%

Dec 2024155%

Mar 2025-63%

Jun 2025-43%

Sep 2025—

Dec 2025-8.2%

Mar 202645%

Jun 2026—

02 · compare level, then change

Profit Scale & Acceleration

Rithm Capital Corp. has the highest Net profit among the 29 REIT - Mortgage companies compared here, at $747 million. Ready Capital Corporation is next at $631 million. Adamas Trust, Inc. has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Rithm Capital Corp. leads with $747 million of TTM profit, 18.4% above Ready Capital Corporation. Adamas Trust, Inc. shows ≥100% on the scoring scale (713% uncapped) growth from a $187 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderRithm Capital Corp. · $747 million

Gap18.4% versus #2 · Ready Capital Corporation

Persistence4/8 recent comparable periods

Coverage24/29 companies · 549 observations

Investor read: Rithm Capital Corp. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.

Net profitlargest

1Rithm Capital Corp. RITM$747M

2Ready Capital Corporation RC$631M

3Two Harbors Investment Corp. TWO$431M

4Starwood Property Trust, Inc. STWD$384M

5Dynex Capital, Inc. DX$241M

Profit growthfastest growers

1Adamas Trust, Inc. ADAM100%

2Apollo Commercial Real Estate Finance, Inc. ARI100%

3PennyMac Mortgage Investment Trust PMT100%

4NexPoint Real Estate Finance, Inc. NREF58%

5Ellington Financial Inc. EFC43%

Net profit · company comparison

24/29 level · 18/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
Annaly Capital Management, Inc. NLY	$291M	124%	Jun 2026
PennyMac Mortgage Investment Trust PMT	$176M	93%	Mar 2026
Rithm Capital Corp. RITM	$109M	35%	Mar 2026
Ellington Financial Inc. EFC	$107M	174%	Mar 2026
Ready Capital Corporation RC	$102M	-24%	Mar 2026
Adamas Trust, Inc. ADAM	$87M	135%	Mar 2026
Starwood Property Trust, Inc. STWD	$57M	-51%	Mar 2026
Two Harbors Investment Corp. TWO	$32M	-96%	Mar 2026
Apollo Commercial Real Estate Finance, Inc. ARI	$26M	0.0%	Mar 2026
NexPoint Real Estate Finance, Inc. NREF	$23M	-12%	Mar 2026
TPG RE Finance Trust, Inc. TRTX	$19M	36%	Mar 2026
Franklin BSP Realty Trust, Inc. FBRT	$12M	-50%	Mar 2026
Arbor Realty Trust, Inc. ABR	$11M	-74%	Mar 2026
Chicago Atlantic Real Estate Finance, Inc. REFI	$5M	-50%	Mar 2026
Ladder Capital Corp LADR	$3M	-75%	Jun 2026
BrightSpire Capital, Inc. BRSP	$3M	-25%	Mar 2026
MFA Financial, Inc. MFA	$-1M	-102%	Mar 2026
TPG Mortgage Investment Trust, Inc. MITT	$-3M	-125%	Mar 2026
Blackstone Mortgage Trust, Inc. BXMT	$-6M	8.1%	Mar 2026
Redwood Trust, Inc. RWT	$-6M	-138%	Mar 2026
Angel Oak Mortgage REIT, Inc. AOMR	$-7M	-133%	Mar 2026
Ares Commercial Real Estate Corporation ACRE	$-10M	-211%	Mar 2026
Orchid Island Capital, Inc. ORC	$-20M	-218%	Jun 2026
Invesco Mortgage Capital Inc. IVR	$-20M	-200%	Mar 2026
Chimera Investment Corporation CIM	$-44M	-126%	Mar 2026
Claros Mortgage Trust, Inc. CMTG	$-54M	-397%	Mar 2026
ARMOUR Residential REIT, Inc. ARR	$-55M	-304%	Jun 2026
Dynex Capital, Inc. DX	$-80M	263%	Mar 2026
AGNC Investment Corp. AGNC	$-192M	-1,380%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

Sep 2021$187M

Dec 2021$-52M

Mar 2022$-676M

Jun 2022$-459M

Sep 2022$-692M

Dec 2022$532M

Mar 2023$-181M

Jun 2023$255M

Sep 2023$-423M

Dec 2023$381M

Mar 2024$412M

Jun 2024$-80M

Sep 2024$313M

Dec 2024$86M

Mar 2025$15M

Jun 2025$-178M

Sep 2025$764M

Dec 2025$908M

Mar 2026$-192M

Jun 2026—

Annaly Capital Management, Inc. · NLY

Sep 2021$522M

Dec 2021$418M

Mar 2022$2.0B

Jun 2022$863M

Sep 2022$-274M

Dec 2022$-887M

Mar 2023$-839M

Jun 2023$161M

Sep 2023$-569M

Dec 2023$-391M

Mar 2024$465M

Jun 2024$-9M

Sep 2024$82M

Dec 2024$473M

Mar 2025$130M

Jun 2025$60M

Sep 2025$843M

Dec 2025$1.0B

Mar 2026$291M

Jun 2026—

Arbor Realty Trust, Inc. · ABR

Sep 2021$86M

Dec 2021$126M

Mar 2022$80M

Jun 2022$88M

Sep 2022$79M

Dec 2022$107M

Mar 2023$102M

Jun 2023$93M

Sep 2023$95M

Dec 2023$110M

Mar 2024$73M

Jun 2024$62M

Sep 2024$74M

Dec 2024$75M

Mar 2025$43M

Jun 2025$36M

Sep 2025$52M

Dec 2025$26M

Mar 2026$11M

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 2021$34M

Dec 2021$-21M

Mar 2022$-66M

Jun 2022$-59M

Sep 2022$-144M

Dec 2022$39M

Mar 2023$-31M

Jun 2023$43M

Sep 2023$-179M

Dec 2023$100M

Mar 2024$15M

Jun 2024$-48M

Sep 2024$66M

Dec 2024$-46M

Mar 2025$27M

Jun 2025$-76M

Sep 2025$159M

Dec 2025$212M

Mar 2026$-55M

Jun 2026—

Blackstone Mortgage Trust, Inc. · BXMT

Sep 2021$84M

Dec 2021$125M

Mar 2022$100M

Jun 2022$94M

Sep 2022$104M

Dec 2022$-47M

Mar 2023$119M

Jun 2023$102M

Sep 2023$31M

Dec 2023$-2M

Mar 2024$-123M

Jun 2024$-60M

Sep 2024$-56M

Dec 2024$37M

Mar 2025$0M

Jun 2025$7M

Sep 2025$63M

Dec 2025$40M

Mar 2026$-6M

Jun 2026—

Dynex Capital, Inc. · DX

Sep 2021$14M

Dec 2021$14M

Mar 2022$117M

Jun 2022$29M

Sep 2022$-47M

Dec 2022$43M

Mar 2023$-42M

Jun 2023$54M

Sep 2023$-43M

Dec 2023$24M

Mar 2024$40M

Jun 2024$-8M

Sep 2024$31M

Dec 2024$51M

Mar 2025$-3M

Jun 2025$-14M

Sep 2025$150M

Dec 2025$185M

Mar 2026$-80M

Jun 2026—

Ellington Financial Inc. · EFC

Sep 2021$24M

Dec 2021$39M

Mar 2022$-6M

Jun 2022$-61M

Sep 2022—

Dec 2022$-30M

Mar 2023$45M

Jun 2023$11M

Sep 2023$13M

Dec 2023$19M

Mar 2024$34M

Jun 2024$60M

Sep 2024$23M

Dec 2024$31M

Mar 2025$39M

Jun 2025$51M

Sep 2025$38M

Dec 2025$23M

Mar 2026$107M

Jun 2026—

Ladder Capital Corp · LADR

Sep 2021$19M

Dec 2021$27M

Mar 2022$19M

Jun 2022$43M

Sep 2022$29M

Dec 2022$74M

Mar 2023$22M

Jun 2023$28M

Sep 2023$31M

Dec 2023$19M

Mar 2024$16M

Jun 2024$32M

Sep 2024$28M

Dec 2024$31M

Mar 2025$12M

Jun 2025$17M

Sep 2025$19M

Dec 2025$16M

Mar 2026$3M

Jun 2026—

Orchid Island Capital, Inc. · ORC

Sep 2021$26M

Dec 2021$-4M

Mar 2022$-149M

Jun 2022$-60M

Sep 2022$-85M

Dec 2022$47M

Mar 2023$4M

Jun 2023$10M

Sep 2023$-80M

Dec 2023$-29M

Mar 2024$20M

Jun 2024$-5M

Sep 2024$17M

Dec 2024$6M

Mar 2025$17M

Jun 2025$-34M

Sep 2025$72M

Dec 2025$103M

Mar 2026$-20M

Jun 2026—

Rithm Capital Corp. · RITM

Sep 2021$171M

Dec 2021$188M

Mar 2022$690M

Jun 2022$33M

Sep 2022$154M

Dec 2022$106M

Mar 2023$90M

Jun 2023$387M

Sep 2023$221M

Dec 2023$-67M

Mar 2024$287M

Jun 2024$239M

Sep 2024$124M

Dec 2024$292M

Mar 2025$81M

Jun 2025$318M

Sep 2025$229M

Dec 2025$91M

Mar 2026$109M

Jun 2026—

Starwood Property Trust, Inc. · STWD

Sep 2021$140M

Dec 2021$103M

Mar 2022$384M

Jun 2022$282M

Sep 2022$224M

Dec 2022$169M

Mar 2023$60M

Jun 2023$222M

Sep 2023$51M

Dec 2023$85M

Mar 2024$160M

Jun 2024$78M

Sep 2024$72M

Dec 2024$71M

Mar 2025$116M

Jun 2025$135M

Sep 2025$80M

Dec 2025$112M

Mar 2026$57M

Jun 2026—

Two Harbors Investment Corp. · TWO

Sep 2021$66M

Dec 2021$-1M

Mar 2022$-285M

Jun 2022$-72M

Sep 2022$278M

Dec 2022$-270M

Mar 2023$-177M

Jun 2023$197M

Sep 2023$-306M

Dec 2023$-433M

Mar 2024$-204M

Jun 2024$-56M

Sep 2024$238M

Dec 2024$277M

Mar 2025$-79M

Jun 2025$259M

Sep 2025$128M

Dec 2025$12M

Mar 2026$32M

Jun 2026—

Profit growth · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-470%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-28%

Mar 2024—

Jun 2024-131%

Sep 2024—

Dec 2024-77%

Mar 2025-96%

Jun 2025—

Sep 2025144%

Dec 2025956%

Mar 2026-1,380%

Jun 2026—

Annaly Capital Management, Inc. · NLY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-152%

Dec 2022-312%

Mar 2023-141%

Jun 2023-81%

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024-106%

Sep 2024—

Dec 2024—

Mar 2025-72%

Jun 2025—

Sep 2025928%

Dec 2025115%

Mar 2026124%

Jun 2026—

Arbor Realty Trust, Inc. · ABR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20224.8%

Sep 2022-8.1%

Dec 2022-15%

Mar 202328%

Jun 20235.7%

Sep 202320%

Dec 20232.8%

Mar 2024-28%

Jun 2024-33%

Sep 2024-22%

Dec 2024-32%

Mar 2025-41%

Jun 2025-42%

Sep 2025-30%

Dec 2025-65%

Mar 2026-74%

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-524%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023156%

Mar 2024—

Jun 2024-212%

Sep 2024—

Dec 2024-146%

Mar 202580%

Jun 2025—

Sep 2025141%

Dec 2025—

Mar 2026-304%

Jun 2026—

Blackstone Mortgage Trust, Inc. · BXMT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-29%

Sep 202224%

Dec 2022-138%

Mar 202319%

Jun 20238.5%

Sep 2023-70%

Dec 2023—

Mar 2024-203%

Jun 2024-159%

Sep 2024-281%

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20258.1%

Mar 2026—

Jun 2026—

Dynex Capital, Inc. · DX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-436%

Dec 2022207%

Mar 2023-136%

Jun 202386%

Sep 2023—

Dec 2023-44%

Mar 2024—

Jun 2024-115%

Sep 2024—

Dec 2024113%

Mar 2025-108%

Jun 2025—

Sep 2025384%

Dec 2025263%

Mar 2026—

Jun 2026—

Ellington Financial Inc. · EFC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-269%

Sep 2022—

Dec 2022-177%

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-24%

Jun 2024445%

Sep 202477%

Dec 202463%

Mar 202515%

Jun 2025-15%

Sep 202565%

Dec 2025-26%

Mar 2026174%

Jun 2026—

Ladder Capital Corp · LADR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022330%

Sep 202253%

Dec 2022174%

Mar 202316%

Jun 2023-35%

Sep 20236.9%

Dec 2023-74%

Mar 2024-27%

Jun 202414%

Sep 2024-9.7%

Dec 202463%

Mar 2025-25%

Jun 2025-47%

Sep 2025-32%

Dec 2025-48%

Mar 2026-75%

Jun 2026—

Orchid Island Capital, Inc. · ORC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-427%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-162%

Mar 2024400%

Jun 2024-150%

Sep 2024—

Dec 2024—

Mar 2025-15%

Jun 2025—

Sep 2025324%

Dec 20251,617%

Mar 2026-218%

Jun 2026—

Rithm Capital Corp. · RITM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-77%

Sep 2022-9.9%

Dec 2022-44%

Mar 2023-87%

Jun 20231,073%

Sep 202344%

Dec 2023-163%

Mar 2024219%

Jun 2024-38%

Sep 2024-44%

Dec 2024—

Mar 2025-72%

Jun 202533%

Sep 202585%

Dec 2025-69%

Mar 202635%

Jun 2026—

Starwood Property Trust, Inc. · STWD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022124%

Sep 202260%

Dec 202264%

Mar 2023-84%

Jun 2023-21%

Sep 2023-77%

Dec 2023-50%

Mar 2024167%

Jun 2024-65%

Sep 202441%

Dec 2024-16%

Mar 2025-28%

Jun 202573%

Sep 202511%

Dec 202558%

Mar 2026-51%

Jun 2026—

Two Harbors Investment Corp. · TWO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-161%

Sep 2022321%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023-210%

Dec 2023—

Mar 2024—

Jun 2024-128%

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025-46%

Dec 2025-96%

Mar 2026—

Jun 2026—

03 · compare level, then change

Funding Base & Its Composition

No company in this REIT - Mortgage comparison has a funding base figure that passes this section's guard, so the Deposits rank is empty. On Borrowings, AGNC Investment Corp. is highest at $89,945 million, across 26 of 29 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

LeaderNo comparable leader

GapNot enough peers

PersistenceNot enough history

Coverage0/29 companies · 0 observations

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.

Depositslargest deposit bases

—Not enough comparable data—

Borrowingslargest borrowings

1AGNC Investment Corp. AGNC$89.9B

2Starwood Property Trust, Inc. STWD$40.1B

3Annaly Capital Management, Inc. NLY$36.9B

4Redwood Trust, Inc. RWT$25.3B

5Rithm Capital Corp. RITM$21.2B

Funding base · company comparison

0/29 level · 26/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Deposits	Borrowings	Reported
Annaly Capital Management, Inc. NLY	—	$36.9B	Jun 2026
AGNC Investment Corp. AGNC	—	$89.9B	Jun 2026
Starwood Property Trust, Inc. STWD	—	$40.1B	Mar 2026
Rithm Capital Corp. RITM	—	$21.2B	Mar 2026
Dynex Capital, Inc. DX	—	$0M	Mar 2026
Blackstone Mortgage Trust, Inc. BXMT	—	$15.9B	Mar 2026
Ellington Financial Inc. EFC	—	$639M	Mar 2026
Two Harbors Investment Corp. TWO	—	$111M	Mar 2026
Ladder Capital Corp LADR	—	$4.0B	Jun 2026
Chimera Investment Corporation CIM	—	$5.7B	Mar 2026
Arbor Realty Trust, Inc. ABR	—	$6.4B	Mar 2026
MFA Financial, Inc. MFA	—	$0M	Mar 2026
Apollo Commercial Real Estate Finance, Inc. ARI	—	$1.7B	Mar 2026
PennyMac Mortgage Investment Trust PMT	—	$3.1B	Mar 2026
Adamas Trust, Inc. ADAM	—	$4.1B	Mar 2026
BrightSpire Capital, Inc. BRSP	—	$2.6B	Mar 2026
TPG RE Finance Trust, Inc. TRTX	—	$3.4B	Mar 2026
Franklin BSP Realty Trust, Inc. FBRT	—	$4.6B	Mar 2026
Redwood Trust, Inc. RWT	—	$25.3B	Mar 2026
NexPoint Real Estate Finance, Inc. NREF	—	$4.0B	Mar 2026
Claros Mortgage Trust, Inc. CMTG	—	$697M	Mar 2026
Chicago Atlantic Real Estate Finance, Inc. REFI	—	$49M	Mar 2026
Ares Commercial Real Estate Corporation ACRE	—	$1.3B	Mar 2026
Ready Capital Corporation RC	—	$2.3B	Mar 2026
TPG Mortgage Investment Trust, Inc. MITT	—	$6.8B	Mar 2026
Angel Oak Mortgage REIT, Inc. AOMR	—	$89M	Mar 2026

Full 20-quarter history · every available company

No consistent historical series is available for deposits.

Borrowings · reported quarter history

Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

Sep 2021$46.8B

Dec 2021$47.6B

Mar 2022$45.5B

Jun 2022$43.5B

Sep 2022$41.6B

Dec 2022$36.5B

Mar 2023$48.8B

Jun 2023$42.2B

Sep 2023$52.3B

Dec 2023$50.9B

Mar 2024$50.1B

Jun 2024$57.1B

Sep 2024$66.1B

Dec 2024$61.0B

Mar 2025$66.3B

Jun 2025$69.3B

Sep 2025$74.3B

Dec 2025$85.3B

Mar 2026$88.1B

Jun 2026$89.9B

Annaly Capital Management, Inc. · NLY

Sep 2021$4.6B

Dec 2021$6.2B

Mar 2022$7.5B

Jun 2022$8.2B

Sep 2022$8.6B

Dec 2022$8.5B

Mar 2023$9.5B

Jun 2023$10.3B

Sep 2023$10.8B

Dec 2023$12.7B

Mar 2024$14.9B

Jun 2024$17.0B

Sep 2024$19.2B

Dec 2024$20.7B

Mar 2025$23.6B

Jun 2025$25.7B

Sep 2025$28.4B

Dec 2025$30.9B

Mar 2026$33.2B

Jun 2026$36.9B

Arbor Realty Trust, Inc. · ABR

Sep 2021$6.2B

Dec 2021$7.6B

Mar 2022$8.8B

Jun 2022$9.7B

Sep 2022$9.7B

Dec 2022$9.7B

Mar 2023$9.3B

Jun 2023$8.9B

Sep 2023$8.8B

Dec 2023$8.7B

Mar 2024$8.5B

Jun 2024$7.4B

Sep 2024$7.0B

Dec 2024$6.4B

Mar 2025$5.1B

Jun 2025$5.4B

Sep 2025$6.2B

Dec 2025$5.9B

Mar 2026$6.4B

Jun 2026—

Blackstone Mortgage Trust, Inc. · BXMT

Sep 2021$16.3B

Dec 2021$17.9B

Mar 2022$19.2B

Jun 2022$20.6B

Sep 2022$19.9B

Dec 2022$20.4B

Mar 2023$20.5B

Jun 2023$20.0B

Sep 2023$19.3B

Dec 2023$19.3B

Mar 2024$18.8B

Jun 2024$18.4B

Sep 2024$17.2B

Dec 2024$15.7B

Mar 2025$15.9B

Jun 2025$16.5B

Sep 2025$15.5B

Dec 2025$16.1B

Mar 2026$15.9B

Jun 2026—

Chimera Investment Corporation · CIM

Sep 2021$8.0B

Dec 2021$7.8B

Mar 2022$8.1B

Jun 2022$7.8B

Sep 2022$7.4B

Dec 2022$7.2B

Mar 2023$7.6B

Jun 2023$8.1B

Sep 2023$7.7B

Dec 2023$7.7B

Mar 2024$7.4B

Jun 2024$7.2B

Sep 2024$7.5B

Dec 2024$7.2B

Mar 2025$7.4B

Jun 2025$7.2B

Sep 2025$7.3B

Dec 2025$7.0B

Mar 2026$5.7B

Jun 2026—

Dynex Capital, Inc. · DX

Sep 2021$0M

Dec 2021$0M

Mar 2022$0M

Jun 2022$0M

Sep 2022$0M

Dec 2022$0M

Mar 2023$0M

Jun 2023$0M

Sep 2023$0M

Dec 2023$0M

Mar 2024$0M

Jun 2024$0M

Sep 2024$0M

Dec 2024$0M

Mar 2025$0M

Jun 2025$0M

Sep 2025$0M

Dec 2025$0M

Mar 2026$0M

Jun 2026—

Ellington Financial Inc. · EFC

Sep 2021$86M

Dec 2021$86M

Mar 2022$296M

Jun 2022$289M

Sep 2022—

Dec 2022$194M

Mar 2023$185M

Jun 2023$185M

Sep 2023$190M

Dec 2023$273M

Mar 2024$271M

Jun 2024$269M

Sep 2024$278M

Dec 2024$282M

Mar 2025$247M

Jun 2025$249M

Sep 2025$252M

Dec 2025$660M

Mar 2026$639M

Jun 2026—

Ladder Capital Corp · LADR

Sep 2021$3.8B

Dec 2021$4.2B

Mar 2022$4.3B

Jun 2022$4.2B

Sep 2022$4.2B

Dec 2022$4.2B

Mar 2023$4.1B

Jun 2023$4.0B

Sep 2023$3.8B

Dec 2023$3.8B

Mar 2024$3.7B

Jun 2024$3.4B

Sep 2024$3.6B

Dec 2024$3.1B

Mar 2025$2.8B

Jun 2025$2.8B

Sep 2025$3.0B

Dec 2025$3.5B

Mar 2026$4.0B

Jun 2026$4.0B

MFA Financial, Inc. · MFA

Sep 2021$0M

Dec 2021$0M

Mar 2022$0M

Jun 2022$0M

Sep 2022$0M

Dec 2022$0M

Mar 2023$0M

Jun 2023$0M

Sep 2023$0M

Dec 2023$0M

Mar 2024$0M

Jun 2024$0M

Sep 2024$0M

Dec 2024$0M

Mar 2025$0M

Jun 2025$0M

Sep 2025$0M

Dec 2025$0M

Mar 2026$0M

Jun 2026—

Rithm Capital Corp. · RITM

Sep 2021$8.8B

Dec 2021$9.2B

Mar 2022$9.8B

Jun 2022$9.9B

Sep 2022$10.2B

Dec 2022$10.6B

Mar 2023$10.3B

Jun 2023$10.9B

Sep 2023$10.5B

Dec 2023$14.2B

Mar 2024$14.3B

Jun 2024$14.7B

Sep 2024$14.2B

Dec 2024$15.9B

Mar 2025$15.5B

Jun 2025$15.3B

Sep 2025$15.7B

Dec 2025$21.6B

Mar 2026$21.2B

Jun 2026—

Starwood Property Trust, Inc. · STWD

Sep 2021$65.2B

Dec 2021$64.2B

Mar 2022$62.3B

Jun 2022$62.3B

Sep 2022$58.5B

Dec 2022$56.8B

Mar 2023$54.8B

Jun 2023$50.9B

Sep 2023$49.0B

Dec 2023$48.0B

Mar 2024$46.0B

Jun 2024$44.4B

Sep 2024$44.4B

Dec 2024$43.5B

Mar 2025$41.8B

Jun 2025$40.9B

Sep 2025$39.4B

Dec 2025$42.2B

Mar 2026$40.1B

Jun 2026—

Two Harbors Investment Corp. · TWO

Sep 2021$821M

Dec 2021$822M

Mar 2022$678M

Jun 2022$679M

Sep 2022$680M

Dec 2022$681M

Mar 2023$681M

Jun 2023$666M

Sep 2023$563M

Dec 2023$564M

Mar 2024$564M

Jun 2024$259M

Sep 2024$260M

Dec 2024$260M

Mar 2025$261M

Jun 2025$372M

Sep 2025$372M

Dec 2025$373M

Mar 2026$111M

Jun 2026—

04 · compare level, then change

Return On Assets

Invesco Mortgage Capital Inc. has the highest ROA among the 29 REIT - Mortgage companies compared here, at 3.3%. BrightSpire Capital, Inc. is next at 0.2%. The same company also holds the highest ROA change, at +3.1 percentage points. 7 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Invesco Mortgage Capital Inc. leads both roa at 3.3% and roa change at +3.1 percentage points.

LeaderInvesco Mortgage Capital Inc. · 3.3%

Gap16.5× versus #2 · BrightSpire Capital, Inc.

Persistence4/8 recent comparable periods

Coverage7/29 companies · 133 observations

Investor read: Invesco Mortgage Capital Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

ROAhighest

1Invesco Mortgage Capital Inc. IVR3.3%

2BrightSpire Capital, Inc. BRSP0.2%

3Ares Commercial Real Estate Corporation ACRE0.1%

4AGNC Investment Corp. AGNC-0.5%

5Franklin BSP Realty Trust, Inc. FBRT-0.7%

ROA changefastest improvers

1Invesco Mortgage Capital Inc. IVR+3.1 pp

2Franklin BSP Realty Trust, Inc. FBRT+0.1 pp

3Ares Commercial Real Estate Corporation ACRE0.0 pp

4BrightSpire Capital, Inc. BRSP−0.1 pp

5AGNC Investment Corp. AGNC−0.7 pp

Return on assets · company comparison

7/29 level · 7/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROA	ROA change	Reported
Invesco Mortgage Capital Inc. IVR	3.3%	+3.1 pp	Mar 2026
BrightSpire Capital, Inc. BRSP	0.2%	−0.1 pp	Mar 2026
Ares Commercial Real Estate Corporation ACRE	0.1%	0.0 pp	Mar 2026
AGNC Investment Corp. AGNC	-0.5%	−0.7 pp	Jun 2026
Orchid Island Capital, Inc. ORC	-0.7%	−1.8 pp	Jun 2026
Franklin BSP Realty Trust, Inc. FBRT	-0.7%	+0.1 pp	Mar 2026
ARMOUR Residential REIT, Inc. ARR	-1.0%	−1.8 pp	Jun 2026

Full 20-quarter history · every available company

ROA · reported quarter history

AGNC Investment Corp. · AGNC

Sep 2021—

Dec 20211.2%

Mar 2022-0.2%

Jun 2022-3.9%

Sep 2022-2.7%

Dec 2022-4.4%

Mar 20234.1%

Jun 2023-1.0%

Sep 20231.8%

Dec 2023-2.4%

Mar 20242.3%

Jun 20242.5%

Sep 2024-0.3%

Dec 20241.6%

Mar 20250.5%

Jun 20250.2%

Sep 2025-0.6%

Dec 20253.1%

Mar 20263.4%

Jun 2026-0.5%

Ares Commercial Real Estate Corporation · ACRE

Sep 20210.6%

Dec 20210.6%

Mar 20220.5%

Jun 20220.6%

Sep 20220.6%

Dec 20220.7%

Mar 20230.7%

Jun 20230.6%

Sep 20230.6%

Dec 20230.2%

Mar 20240.3%

Jun 20240.2%

Sep 20240.2%

Dec 20240.2%

Mar 20250.1%

Jun 20250.0%

Sep 20250.1%

Dec 20250.0%

Mar 20260.1%

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 2021—

Dec 20212.7%

Mar 2022-1.6%

Jun 2022-3.8%

Sep 2022-2.7%

Dec 2022-5.8%

Mar 20231.5%

Jun 2023-1.1%

Sep 20231.3%

Dec 2023-5.4%

Mar 20243.0%

Jun 20240.5%

Sep 2024-1.7%

Dec 20242.2%

Mar 2025-1.4%

Jun 20250.8%

Sep 2025-1.9%

Dec 20253.6%

Mar 20264.2%

Jun 2026-1.0%

BrightSpire Capital, Inc. · BRSP

Sep 20210.5%

Dec 20210.6%

Mar 20220.4%

Jun 20220.3%

Sep 2022-0.2%

Dec 20220.2%

Mar 2023-0.2%

Jun 20230.0%

Sep 20230.4%

Dec 2023-0.2%

Mar 2024-1.2%

Jun 2024-1.5%

Sep 20240.4%

Dec 2024-0.4%

Mar 20250.3%

Jun 2025-0.5%

Sep 20250.1%

Dec 2025-0.3%

Mar 20260.2%

Jun 2026—

Franklin BSP Realty Trust, Inc. · FBRT

Sep 20210.3%

Dec 20210.3%

Mar 20220.3%

Jun 20220.4%

Sep 2022-0.3%

Dec 2022-0.3%

Mar 2023-0.4%

Jun 20230.1%

Sep 2023-0.5%

Dec 2023-0.6%

Mar 2024-0.8%

Jun 2024-0.4%

Sep 2024-1.0%

Dec 2024-0.8%

Mar 2025-0.8%

Jun 2025-0.9%

Sep 2025-0.8%

Dec 2025-1.2%

Mar 2026-0.7%

Jun 2026—

Invesco Mortgage Capital Inc. · IVR

Sep 2021-3.1%

Dec 20212.5%

Mar 2022-2.9%

Jun 2022-12%

Sep 2022-7.7%

Dec 2022-9.0%

Mar 20233.0%

Jun 20231.6%

Sep 20230.3%

Dec 2023-4.7%

Mar 20242.0%

Jun 20242.2%

Sep 2024-1.0%

Dec 20242.9%

Mar 20250.2%

Jun 20251.3%

Sep 2025-1.6%

Dec 20253.8%

Mar 20263.3%

Jun 2026—

Orchid Island Capital, Inc. · ORC

Sep 2021—

Dec 20211.8%

Mar 2022-2.7%

Jun 2022-9.7%

Sep 2022-5.0%

Dec 2022-8.2%

Mar 20233.6%

Jun 20230.3%

Sep 20230.9%

Dec 2023-6.6%

Mar 20242.4%

Jun 20241.9%

Sep 2024-0.4%

Dec 20241.3%

Mar 20250.4%

Jun 20251.1%

Sep 2025-1.8%

Dec 20253.4%

Mar 20264.0%

Jun 2026-0.7%

ROA change · reported quarter history

AGNC Investment Corp. · AGNC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−5.6 pp

Mar 2023+4.3 pp

Jun 2023+2.9 pp

Sep 2023+4.5 pp

Dec 2023+2.0 pp

Mar 2024−1.8 pp

Jun 2024+3.5 pp

Sep 2024−2.1 pp

Dec 2024+4.0 pp

Mar 2025−1.8 pp

Jun 2025−2.3 pp

Sep 2025−0.3 pp

Dec 2025+1.5 pp

Mar 2026+2.9 pp

Jun 2026−0.7 pp

Ares Commercial Real Estate Corporation · ACRE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20220.0 pp

Dec 2022+0.1 pp

Mar 2023+0.2 pp

Jun 20230.0 pp

Sep 20230.0 pp

Dec 2023−0.5 pp

Mar 2024−0.4 pp

Jun 2024−0.4 pp

Sep 2024−0.4 pp

Dec 20240.0 pp

Mar 2025−0.2 pp

Jun 2025−0.2 pp

Sep 2025−0.1 pp

Dec 2025−0.2 pp

Mar 20260.0 pp

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−8.5 pp

Mar 2023+3.1 pp

Jun 2023+2.7 pp

Sep 2023+4.0 pp

Dec 2023+0.4 pp

Mar 2024+1.5 pp

Jun 2024+1.6 pp

Sep 2024−3.0 pp

Dec 2024+7.6 pp

Mar 2025−4.4 pp

Jun 2025+0.3 pp

Sep 2025−0.2 pp

Dec 2025+1.4 pp

Mar 2026+5.6 pp

Jun 2026−1.8 pp

BrightSpire Capital, Inc. · BRSP

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.7 pp

Dec 2022−0.4 pp

Mar 2023−0.6 pp

Jun 2023−0.3 pp

Sep 2023+0.6 pp

Dec 2023−0.4 pp

Mar 2024−1.0 pp

Jun 2024−1.5 pp

Sep 20240.0 pp

Dec 2024−0.2 pp

Mar 2025+1.5 pp

Jun 2025+1.0 pp

Sep 2025−0.3 pp

Dec 2025+0.1 pp

Mar 2026−0.1 pp

Jun 2026—

Franklin BSP Realty Trust, Inc. · FBRT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.6 pp

Dec 2022−0.6 pp

Mar 2023−0.7 pp

Jun 2023−0.3 pp

Sep 2023−0.2 pp

Dec 2023−0.3 pp

Mar 2024−0.4 pp

Jun 2024−0.5 pp

Sep 2024−0.5 pp

Dec 2024−0.2 pp

Mar 20250.0 pp

Jun 2025−0.5 pp

Sep 2025+0.2 pp

Dec 2025−0.4 pp

Mar 2026+0.1 pp

Jun 2026—

Invesco Mortgage Capital Inc. · IVR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−4.6 pp

Dec 2022−11.5 pp

Mar 2023+5.9 pp

Jun 2023+13.4 pp

Sep 2023+8.0 pp

Dec 2023+4.3 pp

Mar 2024−1.0 pp

Jun 2024+0.6 pp

Sep 2024−1.3 pp

Dec 2024+7.6 pp

Mar 2025−1.8 pp

Jun 2025−0.9 pp

Sep 2025−0.6 pp

Dec 2025+0.9 pp

Mar 2026+3.1 pp

Jun 2026—

Orchid Island Capital, Inc. · ORC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−10.0 pp

Mar 2023+6.3 pp

Jun 2023+10.0 pp

Sep 2023+5.9 pp

Dec 2023+1.6 pp

Mar 2024−1.2 pp

Jun 2024+1.6 pp

Sep 2024−1.3 pp

Dec 2024+7.9 pp

Mar 2025−2.0 pp

Jun 2025−0.8 pp

Sep 2025−1.4 pp

Dec 2025+2.1 pp

Mar 2026+3.6 pp

Jun 2026−1.8 pp

05 · compare level, then change

ROE — Leaders & Improvers

Invesco Mortgage Capital Inc. has the highest ROE among the 29 REIT - Mortgage companies compared here, at 26.3%. PennyMac Mortgage Investment Trust is next at 9.3%. The same company also holds the highest ROE change, at +24.5 percentage points. 29 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Invesco Mortgage Capital Inc. leads both roe at 26.3% and roe change at +24.5 percentage points.

LeaderInvesco Mortgage Capital Inc. · 26.3%

Gap182.8% versus #2 · PennyMac Mortgage Investment Trust

Persistence4/8 recent comparable periods

Coverage29/29 companies · 551 observations

Investor read: Invesco Mortgage Capital Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.

ROEhighest

1Invesco Mortgage Capital Inc. IVR26%

2PennyMac Mortgage Investment Trust PMT9.3%

3Adamas Trust, Inc. ADAM6.1%

4Ellington Financial Inc. EFC6.0%

5Ready Capital Corporation RC5.9%

ROE changefastest improvers

1Invesco Mortgage Capital Inc. IVR+24.5 pp

2Two Harbors Investment Corp. TWO+5.3 pp

3Annaly Capital Management, Inc. NLY+4.9 pp

4PennyMac Mortgage Investment Trust PMT+4.6 pp

5Adamas Trust, Inc. ADAM+3.5 pp

Return on equity · company comparison

29/29 level · 29/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROE	ROE change	Reported
Invesco Mortgage Capital Inc. IVR	26%	+24.5 pp	Mar 2026
PennyMac Mortgage Investment Trust PMT	9.3%	+4.6 pp	Mar 2026
Adamas Trust, Inc. ADAM	6.1%	+3.5 pp	Mar 2026
Ellington Financial Inc. EFC	6.0%	+3.5 pp	Mar 2026
Ready Capital Corporation RC	5.9%	0.0 pp	Mar 2026
Annaly Capital Management, Inc. NLY	5.4%	+4.9 pp	Jun 2026
NexPoint Real Estate Finance, Inc. NREF	3.1%	−1.8 pp	Mar 2026
TPG RE Finance Trust, Inc. TRTX	1.8%	+0.6 pp	Mar 2026
Two Harbors Investment Corp. TWO	1.7%	+5.3 pp	Mar 2026
Chicago Atlantic Real Estate Finance, Inc. REFI	1.6%	−1.8 pp	Mar 2026
Apollo Commercial Real Estate Finance, Inc. ARI	1.4%	+0.1 pp	Mar 2026
Rithm Capital Corp. RITM	1.2%	+0.2 pp	Mar 2026
Ladder Capital Corp LADR	1.0%	−0.1 pp	Jun 2026
Starwood Property Trust, Inc. STWD	0.8%	−0.8 pp	Mar 2026
Franklin BSP Realty Trust, Inc. FBRT	0.8%	−0.6 pp	Mar 2026
Arbor Realty Trust, Inc. ABR	0.4%	−1.0 pp	Mar 2026
BrightSpire Capital, Inc. BRSP	0.3%	0.0 pp	Mar 2026
MFA Financial, Inc. MFA	-0.1%	−2.3 pp	Mar 2026
Blackstone Mortgage Trust, Inc. BXMT	-0.2%	−0.2 pp	Mar 2026
Redwood Trust, Inc. RWT	-0.5%	−1.8 pp	Mar 2026
TPG Mortgage Investment Trust, Inc. MITT	-0.6%	−2.7 pp	Mar 2026
Chimera Investment Corporation CIM	-0.8%	−2.7 pp	Mar 2026
Ares Commercial Real Estate Corporation ACRE	-1.9%	−3.5 pp	Mar 2026
Angel Oak Mortgage REIT, Inc. AOMR	-2.9%	−10.9 pp	Mar 2026
Claros Mortgage Trust, Inc. CMTG	-3.2%	+0.6 pp	Mar 2026
Dynex Capital, Inc. DX	-3.9%	−3.6 pp	Mar 2026
AGNC Investment Corp. AGNC	-4.8%	−6.8 pp	Jun 2026
Orchid Island Capital, Inc. ORC	-5.8%	−14.8 pp	Jun 2026
ARMOUR Residential REIT, Inc. ARR	-9.5%	−16.6 pp	Jun 2026

Full 20-quarter history · every available company

ROE · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

Sep 2021—

Dec 20217.9%

Mar 2022-1.0%

Jun 2022-27%

Sep 2022-21%

Dec 2022-35%

Mar 202330%

Jun 2023-7.7%

Sep 202315%

Dec 2023-21%

Mar 202421%

Jun 202421%

Sep 2024-2.2%

Dec 202415%

Mar 20255.0%

Jun 20252.0%

Sep 2025-5.5%

Dec 202530%

Mar 202632%

Jun 2026-4.8%

Annaly Capital Management, Inc. · NLY

Sep 20213.7%

Dec 20213.1%

Mar 202216%

Jun 20227.0%

Sep 2022-2.2%

Dec 2022-7.2%

Mar 2023-7.2%

Jun 20231.4%

Sep 2023-5.3%

Dec 2023-3.4%

Mar 20244.0%

Jun 2024-0.1%

Sep 20240.7%

Dec 20243.9%

Mar 20251.1%

Jun 20250.5%

Sep 20256.1%

Dec 20257.1%

Mar 20262.0%

Jun 20265.4%

Arbor Realty Trust, Inc. · ABR

Sep 20215.0%

Dec 20216.3%

Mar 20223.6%

Jun 20223.6%

Sep 20223.1%

Dec 20223.8%

Mar 20233.4%

Jun 20233.1%

Sep 20233.1%

Dec 20233.5%

Mar 20242.3%

Jun 20241.9%

Sep 20242.3%

Dec 20242.4%

Mar 20251.4%

Jun 20251.2%

Sep 20251.7%

Dec 20250.8%

Mar 20260.4%

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 2021—

Dec 202112%

Mar 2022-7.3%

Jun 2022-25%

Sep 2022-24%

Dec 2022-60%

Mar 202315%

Jun 2023-11%

Sep 202314%

Dec 2023-57%

Mar 202432%

Jun 20244.6%

Sep 2024-16%

Dec 202421%

Mar 2025-14%

Jun 20257.1%

Sep 2025-18%

Dec 202534%

Mar 202639%

Jun 2026-9.5%

Blackstone Mortgage Trust, Inc. · BXMT

Sep 20212.1%

Dec 20212.9%

Mar 20222.3%

Jun 20222.2%

Sep 20222.3%

Dec 2022-1.0%

Mar 20232.6%

Jun 20232.2%

Sep 20230.7%

Dec 20230.0%

Mar 2024-2.8%

Jun 2024-1.4%

Sep 2024-1.3%

Dec 20240.9%

Mar 20250.0%

Jun 20250.2%

Sep 20251.7%

Dec 20251.1%

Mar 2026-0.2%

Jun 2026—

Dynex Capital, Inc. · DX

Sep 20212.0%

Dec 20212.0%

Mar 202216%

Jun 20223.7%

Sep 2022-6.0%

Dec 20225.2%

Mar 2023-5.1%

Jun 20236.3%

Sep 2023-5.5%

Dec 20232.7%

Mar 20244.4%

Jun 2024-0.9%

Sep 20243.2%

Dec 20245.0%

Mar 2025-0.3%

Jun 2025-1.0%

Sep 20259.7%

Dec 202510%

Mar 2026-3.9%

Jun 2026—

Ellington Financial Inc. · EFC

Sep 20212.4%

Dec 20213.5%

Mar 2022-0.6%

Jun 2022-5.6%

Sep 2022—

Dec 2022-2.6%

Mar 20233.3%

Jun 20230.8%

Sep 20231.0%

Dec 20231.4%

Mar 20242.3%

Jun 20244.1%

Sep 20241.6%

Dec 20242.0%

Mar 20252.5%

Jun 20253.1%

Sep 20252.2%

Dec 20251.3%

Mar 20266.0%

Jun 2026—

Ladder Capital Corp · LADR

Sep 20211.2%

Dec 20211.8%

Mar 20221.3%

Jun 20222.9%

Sep 20221.9%

Dec 20224.9%

Mar 20231.5%

Jun 20231.8%

Sep 20232.1%

Dec 20231.2%

Mar 20241.1%

Jun 20242.1%

Sep 20241.8%

Dec 20242.0%

Mar 20250.8%

Jun 20251.1%

Sep 20251.3%

Dec 20251.1%

Mar 20260.2%

Jun 20261.0%

Orchid Island Capital, Inc. · ORC

Sep 2021—

Dec 202116%

Mar 2022-24%

Jun 2022-88%

Sep 2022-44%

Dec 2022-75%

Mar 202333%

Jun 20233.2%

Sep 20238.7%

Dec 2023-67%

Mar 202423%

Jun 202417%

Sep 2024-3.8%

Dec 202411%

Mar 20253.3%

Jun 20259.0%

Sep 2025-15%

Dec 202529%

Mar 202634%

Jun 2026-5.8%

Rithm Capital Corp. · RITM

Sep 20212.8%

Dec 20213.1%

Mar 202211%

Jun 20220.5%

Sep 20222.3%

Dec 20221.5%

Mar 20231.3%

Jun 20235.4%

Sep 20233.1%

Dec 2023-1.0%

Mar 20244.0%

Jun 20243.3%

Sep 20241.6%

Dec 20243.9%

Mar 20251.0%

Jun 20254.0%

Sep 20252.7%

Dec 20251.1%

Mar 20261.2%

Jun 2026—

Starwood Property Trust, Inc. · STWD

Sep 20212.9%

Dec 20211.8%

Mar 20226.5%

Jun 20224.7%

Sep 20223.7%

Dec 20222.4%

Mar 20230.9%

Jun 20233.1%

Sep 20230.7%

Dec 20231.2%

Mar 20242.3%

Jun 20241.1%

Sep 20241.0%

Dec 20241.0%

Mar 20251.6%

Jun 20251.9%

Sep 20251.1%

Dec 20251.5%

Mar 20260.8%

Jun 2026—

Two Harbors Investment Corp. · TWO

Sep 20212.3%

Dec 20210.0%

Mar 2022-11%

Jun 2022-2.9%

Sep 202211%

Dec 2022-11%

Mar 2023-7.3%

Jun 20238.4%

Sep 2023-14%

Dec 2023-20%

Mar 2024-9.1%

Jun 2024-2.6%

Sep 202411%

Dec 202413%

Mar 2025-3.6%

Jun 202513%

Sep 20256.5%

Dec 20250.6%

Mar 20261.7%

Jun 2026—

ROE change · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−42.8 pp

Mar 2023+30.7 pp

Jun 2023+19.4 pp

Sep 2023+35.1 pp

Dec 2023+14.4 pp

Mar 2024−8.7 pp

Jun 2024+28.8 pp

Sep 2024−16.8 pp

Dec 2024+35.6 pp

Mar 2025−16.0 pp

Jun 2025−19.1 pp

Sep 2025−3.3 pp

Dec 2025+14.5 pp

Mar 2026+27.0 pp

Jun 2026−6.8 pp

Annaly Capital Management, Inc. · NLY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−5.9 pp

Dec 2022−10.3 pp

Mar 2023−23.0 pp

Jun 2023−5.6 pp

Sep 2023−3.1 pp

Dec 2023+3.8 pp

Mar 2024+11.2 pp

Jun 2024−1.5 pp

Sep 2024+6.0 pp

Dec 2024+7.3 pp

Mar 2025−2.9 pp

Jun 2025+0.6 pp

Sep 2025+5.4 pp

Dec 2025+3.2 pp

Mar 2026+0.9 pp

Jun 2026+4.9 pp

Arbor Realty Trust, Inc. · ABR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.9 pp

Dec 2022−2.5 pp

Mar 2023−0.2 pp

Jun 2023−0.5 pp

Sep 20230.0 pp

Dec 2023−0.3 pp

Mar 2024−1.1 pp

Jun 2024−1.2 pp

Sep 2024−0.8 pp

Dec 2024−1.1 pp

Mar 2025−0.9 pp

Jun 2025−0.7 pp

Sep 2025−0.6 pp

Dec 2025−1.6 pp

Mar 2026−1.0 pp

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−72.3 pp

Mar 2023+22.6 pp

Jun 2023+13.7 pp

Sep 2023+37.3 pp

Dec 2023+3.3 pp

Mar 2024+16.5 pp

Jun 2024+15.4 pp

Sep 2024−29.9 pp

Dec 2024+78.2 pp

Mar 2025−45.7 pp

Jun 2025+2.5 pp

Sep 2025−1.9 pp

Dec 2025+12.3 pp

Mar 2026+52.5 pp

Jun 2026−16.6 pp

Blackstone Mortgage Trust, Inc. · BXMT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.2 pp

Dec 2022−3.9 pp

Mar 2023+0.3 pp

Jun 20230.0 pp

Sep 2023−1.6 pp

Dec 2023+1.0 pp

Mar 2024−5.4 pp

Jun 2024−3.6 pp

Sep 2024−2.0 pp

Dec 2024+0.9 pp

Mar 2025+2.8 pp

Jun 2025+1.6 pp

Sep 2025+3.0 pp

Dec 2025+0.2 pp

Mar 2026−0.2 pp

Jun 2026—

Dynex Capital, Inc. · DX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−8.0 pp

Dec 2022+3.2 pp

Mar 2023−20.6 pp

Jun 2023+2.6 pp

Sep 2023+0.5 pp

Dec 2023−2.5 pp

Mar 2024+9.5 pp

Jun 2024−7.2 pp

Sep 2024+8.7 pp

Dec 2024+2.3 pp

Mar 2025−4.7 pp

Jun 2025−0.1 pp

Sep 2025+6.5 pp

Dec 2025+5.2 pp

Mar 2026−3.6 pp

Jun 2026—

Ellington Financial Inc. · EFC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−6.1 pp

Mar 2023+3.9 pp

Jun 2023+6.4 pp

Sep 2023—

Dec 2023+4.0 pp

Mar 2024−1.0 pp

Jun 2024+3.3 pp

Sep 2024+0.6 pp

Dec 2024+0.6 pp

Mar 2025+0.2 pp

Jun 2025−1.0 pp

Sep 2025+0.6 pp

Dec 2025−0.7 pp

Mar 2026+3.5 pp

Jun 2026—

Ladder Capital Corp · LADR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.7 pp

Dec 2022+3.1 pp

Mar 2023+0.2 pp

Jun 2023−1.1 pp

Sep 2023+0.2 pp

Dec 2023−3.7 pp

Mar 2024−0.4 pp

Jun 2024+0.3 pp

Sep 2024−0.3 pp

Dec 2024+0.8 pp

Mar 2025−0.3 pp

Jun 2025−1.0 pp

Sep 2025−0.5 pp

Dec 2025−0.9 pp

Mar 2026−0.6 pp

Jun 2026−0.1 pp

Orchid Island Capital, Inc. · ORC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−90.8 pp

Mar 2023+57.1 pp

Jun 2023+90.7 pp

Sep 2023+52.5 pp

Dec 2023+7.6 pp

Mar 2024−10.1 pp

Jun 2024+13.4 pp

Sep 2024−12.5 pp

Dec 2024+78.4 pp

Mar 2025−19.9 pp

Jun 2025−7.6 pp

Sep 2025−11.4 pp

Dec 2025+17.5 pp

Mar 2026+30.4 pp

Jun 2026−14.8 pp

Rithm Capital Corp. · RITM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.5 pp

Dec 2022−1.6 pp

Mar 2023−9.5 pp

Jun 2023+4.9 pp

Sep 2023+0.8 pp

Dec 2023−2.5 pp

Mar 2024+2.7 pp

Jun 2024−2.1 pp

Sep 2024−1.5 pp

Dec 2024+4.9 pp

Mar 2025−3.0 pp

Jun 2025+0.7 pp

Sep 2025+1.1 pp

Dec 2025−2.8 pp

Mar 2026+0.2 pp

Jun 2026—

Starwood Property Trust, Inc. · STWD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.8 pp

Dec 2022+0.6 pp

Mar 2023−5.6 pp

Jun 2023−1.6 pp

Sep 2023−3.0 pp

Dec 2023−1.2 pp

Mar 2024+1.4 pp

Jun 2024−2.0 pp

Sep 2024+0.3 pp

Dec 2024−0.2 pp

Mar 2025−0.7 pp

Jun 2025+0.8 pp

Sep 2025+0.1 pp

Dec 2025+0.5 pp

Mar 2026−0.8 pp

Jun 2026—

Two Harbors Investment Corp. · TWO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+9.1 pp

Dec 2022−11.0 pp

Mar 2023+3.4 pp

Jun 2023+11.3 pp

Sep 2023−25.8 pp

Dec 2023−8.7 pp

Mar 2024−1.8 pp

Jun 2024−11.0 pp

Sep 2024+25.5 pp

Dec 2024+32.5 pp

Mar 2025+5.5 pp

Jun 2025+15.3 pp

Sep 2025−4.6 pp

Dec 2025−12.2 pp

Mar 2026+5.3 pp

Jun 2026—

06 · not available

Gross NPA — Leaders & Improvers

No company in this REIT - Mortgage comparison reports gross NPA on a comparable basis, so there is nothing to rank here — 0 of 29 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

07 · compare level, then change

Valuation Against Growth & Quality

Invesco Mortgage Capital Inc. has the lowest P/BV ÷ ROE among the 29 REIT - Mortgage companies compared here, at 0.03×. Ready Capital Corporation has the lowest P/BV at 0.2×, so level and change sit with different companies. 17 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Invesco Mortgage Capital Inc. has the lowest comparable P/BV ÷ ROE at 0.03×, 0% below Ready Capital Corporation. Only 17 of 29 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderInvesco Mortgage Capital Inc. · 0.03×

Gap0% versus #2 · Ready Capital Corporation

Persistence0/8 recent comparable periods

Coverage17/29 companies · 381 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.

P/BV ÷ ROElowest return-adjusted price

1Invesco Mortgage Capital Inc. IVR0.0

2Ready Capital Corporation RC0.0

3PennyMac Mortgage Investment Trust PMT0.1

4Adamas Trust, Inc. ADAM0.1

5Ellington Financial Inc. EFC0.1

P/BVlowest P/BV

1Ready Capital Corporation RC0.2

2Claros Mortgage Trust, Inc. CMTG0.2

3Chimera Investment Corporation CIM0.4

4TPG Mortgage Investment Trust, Inc. MITT0.4

5Adamas Trust, Inc. ADAM0.5

Valuation · company comparison

17/29 level · 29/29 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	P/BV ÷ ROE	P/BV	Reported
BrightSpire Capital, Inc. BRSP	2.6	0.8	Mar 2026
Arbor Realty Trust, Inc. ABR	1.3	0.5	Mar 2026
Starwood Property Trust, Inc. STWD	1.2	1.0	Mar 2026
Ladder Capital Corp LADR	0.9	0.9	Jun 2026
Blackstone Mortgage Trust, Inc. BXMT	0.8	1.0	Mar 2026
Franklin BSP Realty Trust, Inc. FBRT	0.7	0.6	Mar 2026
Claros Mortgage Trust, Inc. CMTG	0.6	0.2	Mar 2026
Apollo Commercial Real Estate Finance, Inc. ARI	0.6	0.8	Mar 2026
Ares Commercial Real Estate Corporation ACRE	0.5	0.5	Mar 2026
Rithm Capital Corp. RITM	0.5	0.6	Mar 2026
Chicago Atlantic Real Estate Finance, Inc. REFI	0.5	0.8	Mar 2026
Two Harbors Investment Corp. TWO	0.4	0.7	Mar 2026
Redwood Trust, Inc. RWT	0.4	0.7	Mar 2026
Chimera Investment Corporation CIM	0.4	0.4	Mar 2026
TPG RE Finance Trust, Inc. TRTX	0.3	0.6	Mar 2026
NexPoint Real Estate Finance, Inc. NREF	0.2	0.7	Mar 2026
TPG Mortgage Investment Trust, Inc. MITT	0.2	0.4	Mar 2026
Annaly Capital Management, Inc. NLY	0.2	1.0	Jun 2026
Angel Oak Mortgage REIT, Inc. AOMR	0.2	0.8	Mar 2026
MFA Financial, Inc. MFA	0.2	0.6	Mar 2026
Ellington Financial Inc. EFC	0.1	0.8	Mar 2026
Dynex Capital, Inc. DX	0.1	1.0	Mar 2026
Adamas Trust, Inc. ADAM	0.1	0.5	Mar 2026
PennyMac Mortgage Investment Trust PMT	0.1	0.5	Mar 2026
AGNC Investment Corp. AGNC	0.0	1.0	Jun 2026
Orchid Island Capital, Inc. ORC	0.0	1.0	Jun 2026
Invesco Mortgage Capital Inc. IVR	0.0	0.8	Mar 2026
Ready Capital Corporation RC	0.0	0.2	Mar 2026
ARMOUR Residential REIT, Inc. ARR	0.0	0.8	Jun 2026

Full 20-quarter history · every available company

P/BV ÷ ROE · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

Sep 2021—

Dec 20210.1

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.0

Jun 2023—

Sep 20230.1

Dec 2023—

Mar 20240.0

Jun 20240.0

Sep 2024—

Dec 20240.1

Mar 20250.2

Jun 20250.5

Sep 2025—

Dec 20250.0

Mar 20260.0

Jun 2026—

Annaly Capital Management, Inc. · NLY

Sep 20210.1

Dec 20210.3

Mar 20220.1

Jun 20220.1

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.6

Sep 2023—

Dec 2023—

Mar 20240.2

Jun 2024—

Sep 20241.3

Dec 20240.2

Mar 20250.9

Jun 20251.7

Sep 20250.1

Dec 20250.1

Mar 20260.5

Jun 20260.2

Arbor Realty Trust, Inc. · ABR

Sep 20210.3

Dec 20210.2

Mar 20220.3

Jun 20220.2

Sep 20220.2

Dec 20220.2

Mar 20230.2

Jun 20230.3

Sep 20230.3

Dec 20230.3

Mar 20240.4

Jun 20240.5

Sep 20240.4

Dec 20240.4

Mar 20250.5

Jun 20250.6

Sep 20250.5

Dec 20250.6

Mar 20261.3

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 2021—

Dec 20210.1

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.1

Jun 2023—

Sep 20230.1

Dec 2023—

Mar 20240.0

Jun 20240.2

Sep 2024—

Dec 20240.0

Mar 2025—

Jun 20250.1

Sep 2025—

Dec 20250.0

Mar 20260.0

Jun 2026—

Blackstone Mortgage Trust, Inc. · BXMT

Sep 20210.5

Dec 20210.4

Mar 20220.5

Jun 20220.5

Sep 20220.4

Dec 2022—

Mar 20230.3

Jun 20230.4

Sep 20231.2

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20240.9

Mar 2025—

Jun 20254.6

Sep 20250.5

Dec 20250.8

Mar 2026—

Jun 2026—

Dynex Capital, Inc. · DX

Sep 20210.4

Dec 20210.4

Mar 20220.1

Jun 20220.2

Sep 2022—

Dec 20220.2

Mar 2023—

Jun 20230.1

Sep 2023—

Dec 20230.3

Mar 20240.2

Jun 2024—

Sep 20240.3

Dec 20240.2

Mar 2025—

Jun 2025—

Sep 20250.1

Dec 20250.1

Mar 2026—

Jun 2026—

Ellington Financial Inc. · EFC

Sep 20210.4

Dec 20210.2

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.2

Jun 20230.9

Sep 20230.7

Dec 20230.5

Mar 20240.3

Jun 20240.2

Sep 20240.5

Dec 20240.4

Mar 20250.3

Jun 20250.2

Sep 20250.3

Dec 20250.7

Mar 20260.1

Jun 2026—

Ladder Capital Corp · LADR

Sep 20210.8

Dec 20210.6

Mar 20220.8

Jun 20220.3

Sep 20220.4

Dec 20220.2

Mar 20230.5

Jun 20230.5

Sep 20230.4

Dec 20230.8

Mar 20240.8

Jun 20240.5

Sep 20240.5

Dec 20240.5

Mar 20251.2

Jun 20250.8

Sep 20250.7

Dec 20250.9

Mar 20264.3

Jun 20260.9

Orchid Island Capital, Inc. · ORC

Sep 2021—

Dec 20210.1

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.0

Jun 20230.3

Sep 20230.1

Dec 2023—

Mar 20240.0

Jun 20240.1

Sep 2024—

Dec 20240.1

Mar 20250.3

Jun 20250.1

Sep 2025—

Dec 20250.0

Mar 20260.0

Jun 2026—

Rithm Capital Corp. · RITM

Sep 20210.3

Dec 20210.2

Mar 20220.1

Jun 20221.2

Sep 20220.2

Dec 20220.4

Mar 20230.4

Jun 20230.1

Sep 20230.2

Dec 2023—

Mar 20240.2

Jun 20240.2

Sep 20240.5

Dec 20240.2

Mar 20250.8

Jun 20250.2

Sep 20250.3

Dec 20250.7

Mar 20260.5

Jun 2026—

Starwood Property Trust, Inc. · STWD

Sep 20210.5

Dec 20210.7

Mar 20220.2

Jun 20220.2

Sep 20220.2

Dec 20220.4

Mar 20231.0

Jun 20230.3

Sep 20231.4

Dec 20230.9

Mar 20240.4

Jun 20240.9

Sep 20241.1

Dec 20241.0

Mar 20250.7

Jun 20250.6

Sep 20250.9

Dec 20250.7

Mar 20261.2

Jun 2026—

Two Harbors Investment Corp. · TWO

Sep 20210.3

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20220.1

Dec 2022—

Mar 2023—

Jun 20230.1

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.1

Dec 20240.0

Mar 2025—

Jun 20250.1

Sep 20250.1

Dec 20251.0

Mar 20260.4

Jun 2026—

P/BV · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

Sep 20210.8

Dec 20210.8

Mar 20220.8

Jun 20220.7

Sep 20220.6

Dec 20220.8

Mar 20230.7

Jun 20230.8

Sep 20230.8

Dec 20230.8

Mar 20240.8

Jun 20240.8

Sep 20240.9

Dec 20240.8

Mar 20250.9

Jun 20250.9

Sep 20250.9

Dec 20250.9

Mar 20260.9

Jun 20261.0

Annaly Capital Management, Inc. · NLY

Sep 20210.2

Dec 20210.9

Mar 20220.9

Jun 20220.9

Sep 20220.7

Dec 20220.9

Mar 20230.8

Jun 20230.8

Sep 20230.9

Dec 20230.9

Mar 20240.9

Jun 20240.9

Sep 20240.9

Dec 20240.8

Mar 20250.9

Jun 20250.9

Sep 20250.9

Dec 20251.0

Mar 20261.0

Jun 20261.0

Arbor Realty Trust, Inc. · ABR

Sep 20211.3

Dec 20211.2

Mar 20221.1

Jun 20220.8

Sep 20220.7

Dec 20220.8

Mar 20230.7

Jun 20230.9

Sep 20230.9

Dec 20230.9

Mar 20240.8

Jun 20240.9

Sep 20241.0

Dec 20240.9

Mar 20250.8

Jun 20250.7

Sep 20250.8

Dec 20250.5

Mar 20260.5

Jun 2026—

ARMOUR Residential REIT, Inc. · ARR

Sep 20210.8

Dec 20210.8

Mar 20220.8

Jun 20220.8

Sep 20220.6

Dec 20220.7

Mar 20230.8

Jun 20230.8

Sep 20230.8

Dec 20230.7

Mar 20240.8

Jun 20240.8

Sep 20240.8

Dec 20240.8

Mar 20250.8

Jun 20250.8

Sep 20250.8

Dec 20250.9

Mar 20260.9

Jun 20260.8

Blackstone Mortgage Trust, Inc. · BXMT

Sep 20211.1

Dec 20211.1

Mar 20221.2

Jun 20221.0

Sep 20220.9

Dec 20220.8

Mar 20230.7

Jun 20230.8

Sep 20230.8

Dec 20230.8

Mar 20240.8

Jun 20240.8

Sep 20240.9

Dec 20240.8

Mar 20250.9

Jun 20250.9

Sep 20250.9

Dec 20250.9

Mar 20261.0

Jun 2026—

Dynex Capital, Inc. · DX

Sep 20210.8

Dec 20210.8

Mar 20220.8

Jun 20220.8

Sep 20220.7

Dec 20220.8

Mar 20230.8

Jun 20230.8

Sep 20230.8

Dec 20230.8

Mar 20240.8

Jun 20240.9

Sep 20240.9

Dec 20240.9

Mar 20251.0

Jun 20251.0

Sep 20250.8

Dec 20251.0

Mar 20261.0

Jun 2026—

Ellington Financial Inc. · EFC

Sep 20210.9

Dec 20210.8

Mar 20220.8

Jun 20220.7

Sep 2022—

Dec 20220.6

Mar 20230.6

Jun 20230.7

Sep 20230.7

Dec 20230.7

Mar 20240.7

Jun 20240.7

Sep 20240.7

Dec 20240.7

Mar 20250.8

Jun 20250.8

Sep 20250.7

Dec 20250.8

Mar 20260.8

Jun 2026—

Ladder Capital Corp · LADR

Sep 20210.9

Dec 20211.0

Mar 20221.0

Jun 20220.9

Sep 20220.8

Dec 20220.8

Mar 20230.8

Jun 20230.9

Sep 20230.9

Dec 20231.0

Mar 20240.9

Jun 20240.9

Sep 20241.0

Dec 20240.9

Mar 20251.0

Jun 20250.9

Sep 20250.9

Dec 20250.9

Mar 20260.9

Jun 20260.9

Orchid Island Capital, Inc. · ORC

Sep 20210.9

Dec 20211.0

Mar 20221.0

Jun 20221.0

Sep 20220.7

Dec 20220.8

Mar 20230.9

Jun 20230.8

Sep 20231.0

Dec 20230.9

Mar 20241.0

Jun 20240.9

Sep 20240.9

Dec 20240.9

Mar 20250.9

Jun 20250.9

Sep 20250.9

Dec 20250.9

Mar 20261.0

Jun 20261.0

Rithm Capital Corp. · RITM

Sep 20210.8

Dec 20210.8

Mar 20220.7

Jun 20220.6

Sep 20220.5

Dec 20220.6

Mar 20230.6

Jun 20230.6

Sep 20230.6

Dec 20230.7

Mar 20240.8

Jun 20240.7

Sep 20240.8

Dec 20240.7

Mar 20250.8

Jun 20250.8

Sep 20250.7

Dec 20250.7

Mar 20260.6

Jun 2026—

Starwood Property Trust, Inc. · STWD

Sep 20211.6

Dec 20211.2

Mar 20221.2

Jun 20221.0

Sep 20220.9

Dec 20220.9

Mar 20230.9

Jun 20231.0

Sep 20231.0

Dec 20231.1

Mar 20241.0

Jun 20241.0

Sep 20241.1

Dec 20241.0

Mar 20251.1

Jun 20251.1

Sep 20251.0

Dec 20251.0

Mar 20261.0

Jun 2026—

Two Harbors Investment Corp. · TWO

Sep 20210.7

Dec 20210.7

Mar 20220.7

Jun 20220.7

Sep 20220.5

Dec 20220.6

Mar 20230.6

Jun 20230.6

Sep 20230.6

Dec 20230.7

Mar 20240.6

Jun 20240.6

Sep 20240.7

Dec 20240.6

Mar 20250.7

Jun 20250.6

Sep 20250.6

Dec 20250.6

Mar 20260.7

Jun 2026—

08 · let price answer last

Market action

Adamas Trust, Inc. has the strongest one-year price move in REIT - Mortgage at +32.4%. NexPoint Real Estate Finance, Inc. leads on Mansfield relative strength against the S&P 500 at +8.9%. 3 of 29 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This REIT - Mortgage comparison names 6 specific ways its own evidence can mislead, all listed below. All 29 companies here report on comparable dates, so no rank carries a stale marker. 2 of the 7 ranked sections have fewer than three usable current readings. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.

09 · the complete set

Which companies are included?

All 29 companies in the canonical REIT - Mortgage membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals
Annaly Capital Management, Inc. NLY	$17.4B	$23.2	2026-07-28	Jun 2026
AGNC Investment Corp. AGNC	$12.9B	$11.1	2026-07-28	Jun 2026
Starwood Property Trust, Inc. STWD	$6.2B	$16.7	2026-07-28	Mar 2026
Rithm Capital Corp. RITM	$5.5B	$9.8	2026-07-28	Mar 2026
Dynex Capital, Inc. DX	$3.2B	$12.9	2026-07-28	Mar 2026
Blackstone Mortgage Trust, Inc. BXMT	$2.8B	$16.6	2026-07-28	Mar 2026
ARMOUR Residential REIT, Inc. ARR	$2.3B	$16.4	2026-07-28	Jun 2026
Ellington Financial Inc. EFC	$1.7B	$13.6	2026-07-28	Mar 2026
Orchid Island Capital, Inc. ORCLAGGING, FUNDAMENTALS UP	$1.3B	$6.6	2026-07-28	Jun 2026
Two Harbors Investment Corp. TWO	$1.3B	$12.1	2026-07-28	Mar 2026
Ladder Capital Corp LADR	$1.3B	$9.9	2026-07-28	Jun 2026
Chimera Investment Corporation CIM	$1.1B	$12.7	2026-07-28	Mar 2026
Arbor Realty Trust, Inc. ABR	$1.1B	$5.1	2026-07-28	Mar 2026
MFA Financial, Inc. MFA	$935M	$9.2	2026-07-28	Mar 2026
Apollo Commercial Real Estate Finance, Inc. ARI	$881M	$6.7	2026-07-28	Mar 2026
PennyMac Mortgage Investment Trust PMTLAGGING, FUNDAMENTALS UP	$854M	$9.8	2026-07-28	Mar 2026
Adamas Trust, Inc. ADAM21/26 WEEKS	$783M	$8.7	2026-07-28	Mar 2026
Invesco Mortgage Capital Inc. IVRLAGGING, FUNDAMENTALS UP	$697M	$7.5	2026-07-28	Mar 2026
BrightSpire Capital, Inc. BRSP	$683M	$5.2	2026-07-28	Mar 2026
TPG RE Finance Trust, Inc. TRTX	$660M	$8.5	2026-07-28	Mar 2026
Franklin BSP Realty Trust, Inc. FBRT	$596M	$7.8	2026-07-28	Mar 2026
Redwood Trust, Inc. RWT	$584M	$4.7	2026-07-28	Mar 2026
NexPoint Real Estate Finance, Inc. NREFAHEAD	$395M	$17.1	2026-07-28	Mar 2026
Claros Mortgage Trust, Inc. CMTG	$297M	$2.1	2026-07-28	Mar 2026
Chicago Atlantic Real Estate Finance, Inc. REFI	$257M	$10.1	2026-07-28	Mar 2026
Ares Commercial Real Estate Corporation ACRE	$256M	$4.6	2026-07-28	Mar 2026
Ready Capital Corporation RC	$240M	$1.5	2026-07-28	Mar 2026
TPG Mortgage Investment Trust, Inc. MITT	$230M	$7.2	2026-07-28	Mar 2026
Angel Oak Mortgage REIT, Inc. AOMR	$223M	$9.0	2026-07-28	Mar 2026

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 29 REIT - Mortgage companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-07-28 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Questions investors ask · short, speakable answers

REIT - Mortgage company comparison FAQs

These 15 answers restate the REIT - Mortgage comparison above in question form. Every one is computed from the same 29 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which REIT - Mortgage company is the biggest?

Rithm Capital Corp. is the largest, with trailing-twelve-month income of $4,994 million, ahead of Ready Capital Corporation at $1,057 million. That covers 24 of 29 companies with comparable reporting through Mar 2026.

Which REIT - Mortgage company is growing fastest?

Adamas Trust, Inc. has the fastest income growth at 100% year on year, across 24 of 29 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which REIT - Mortgage company makes the most profit?

Rithm Capital Corp. earns the most, at $747 million of trailing-twelve-month net profit, from 24 of 29 comparable companies. Adamas Trust, Inc. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which REIT - Mortgage company earns the highest return on capital?

Invesco Mortgage Capital Inc. leads on return on assets at 3.3%, across 7 of 29 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which REIT - Mortgage stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Invesco Mortgage Capital Inc. screens cheapest at 0.03×. Only 17 of 29 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the REIT - Mortgage sector beating the market?

REIT - Mortgage has underperformed S&P 500 by 22.4% over the last 52 weeks and 11.8% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 3 of 29 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which REIT - Mortgage stock has the strongest price momentum?

NexPoint Real Estate Finance, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which REIT - Mortgage company scores highest for research priority?

Invesco Mortgage Capital Inc. scores 70.9 out of 100 with 70% evidence confidence, from 25.9 points on growth and earnings, 19.6 on capital efficiency, 15.6 on valuation and 9.8 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many REIT - Mortgage companies does this comparison cover, and over what period?

It compares 29 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the REIT - Mortgage sector?

The 29 REIT - Mortgage companies on this page carry $66,550 million of combined market value. Annaly Capital Management, Inc. is the largest at $17,413 million, about 26% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the REIT - Mortgage sector's P/B ratio?

The median price-to-book ratio across the 29 REIT - Mortgage companies on this page is 0.7×, measured on the 29 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the REIT - Mortgage sector performing?

3 of the 29 covered REIT - Mortgage companies are beating S&P 500 on Mansfield relative strength. The sector itself is 22.4% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many REIT - Mortgage stocks are listed in the US?

This comparison covers 29 listed REIT - Mortgage companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.